Eli Lilly and Company (NYSE:LLY) Shares Down 1.2% - Should You Sell?

Key Points

• Eli Lilly's stock fell by 1.2% to $633.18, with trading volume increasing by 48% compared to its average.
• Analysts have a mixed view on the company's stock, with ratings ranging from "overweight" with a target of $1,135.00 to "reduce" with a target of $700.00.
• The company recently reported $6.31 earnings per share, exceeding expectations, and declared a quarterly dividend of $1.50 per share.

Eli Lilly and Company (NYSE:LLY - Get Free Report) was down 1.2% during mid-day trading on Friday . The stock traded as low as $623.78 and last traded at $633.18. Approximately 5,867,702 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 3,966,990 shares. The stock had previously closed at $640.86.

Wall Street Analyst Weigh In

Several research analysts have commented on LLY shares. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. UBS Group cut their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Leerink Partners reissued a "market perform" rating and set a $715.00 price target on shares of Eli Lilly and Company in a research note on Thursday. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $999.50.

Eli Lilly and Company Stock Performance

The stock has a 50 day simple moving average of $776.36 and a two-hundred day simple moving average of $799.60. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The company has a market capitalization of $600.16 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 1.06 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period last year, the company posted $3.92 EPS. The company's revenue was up 37.6% on a year-over-year basis. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Institutional Trading of Eli Lilly and Company

Several institutional investors have recently made changes to their positions in the stock. WestEnd Advisors LLC increased its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $27,000. Blume Capital Management Inc. grew its holdings in shares of Eli Lilly and Company by 46.7% during the second quarter. Blume Capital Management Inc. now owns 44 shares of the company's stock worth $34,000 after purchasing an additional 14 shares during the last quarter. Citizens National Bank Trust Department grew its stake in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in Eli Lilly and Company during the 2nd quarter worth $35,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.

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