Eli Lilly and Company (NYSE:LLY) Shares Down 1.9% - Here's What Happened

Key Points

• Eli Lilly and Company (NYSE:LLY) shares fell by 1.9% on Friday, closing at $803.53, amidst lower trading volume compared to the average.
• Several research firms have revised their price targets for Eli Lilly, with Deutsche Bank lowering theirs from $1,010 to $900, while HSBC raised theirs from $700 to $800.
• The company reported strong quarterly earnings of $6.31 per share, exceeding estimates, and achieved a revenue increase of 37.6% year-over-year.

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares fell 1.9% during trading on Friday . The company traded as low as $783.85 and last traded at $803.53. 3,938,685 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 4,060,745 shares. The stock had previously closed at $819.38.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LLY. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Berenberg Bank reissued a "hold" rating and issued a $830.00 price objective (down previously from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. Daiwa Capital Markets cut Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 target price on the stock. in a report on Sunday, August 17th. HSBC lifted their target price on Eli Lilly and Company from $700.00 to $800.00 in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group lifted their target price on Eli Lilly and Company from $876.00 to $879.00 and gave the stock a "buy" rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $939.12.

Eli Lilly and Company Stock Down 1.9%

The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The firm has a market cap of $760.51 billion, a PE ratio of 52.52, a P/E/G ratio of 1.18 and a beta of 0.47. The business has a fifty day moving average price of $749.52 and a two-hundred day moving average price of $766.23.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the company posted $3.92 earnings per share. Eli Lilly and Company's revenue for the quarter was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Gabrielle Sulzberger acquired 117 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the transaction, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J Erik Fyrwald acquired 1,565 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the transaction, the director owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Eli Lilly and Company

Several large investors have recently made changes to their positions in the stock. Hobbs Wealth Management LLC grew its stake in Eli Lilly and Company by 0.8% in the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after acquiring an additional 12 shares during the period. Hixon Zuercher LLC grew its stake in Eli Lilly and Company by 0.7% in the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after acquiring an additional 12 shares during the period. O Brien Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the period. Ascent Capital Management LLC boosted its position in shares of Eli Lilly and Company by 2.5% during the first quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock worth $409,000 after buying an additional 12 shares during the period. Finally, Cottage Street Advisors LLC boosted its position in shares of Eli Lilly and Company by 2.5% during the first quarter. Cottage Street Advisors LLC now owns 533 shares of the company's stock worth $440,000 after buying an additional 13 shares during the period. Institutional investors own 82.53% of the company's stock.

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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