Eli Lilly and Company (NYSE:LLY) Shares Down 2.6% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price fell 2.6% during mid-day trading on Friday . The company traded as low as $755.56 and last traded at $764.26. 2,071,359 shares traded hands during trading, a decline of 43% from the average session volume of 3,650,451 shares. The stock had previously closed at $785.03.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LLY. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.79.

Eli Lilly and Company Price Performance

The company's 50 day moving average price is $779.84 and its 200-day moving average price is $801.47. The stock has a market cap of $724.80 billion, a P/E ratio of 62.22, a P/E/G ratio of 1.15 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. Eli Lilly and Company's revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company's payout ratio is currently 48.82%.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the period. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after buying an additional 4,975,395 shares during the period. Geode Capital Management LLC increased its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares during the period. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Eli Lilly and Company by 0.6% during the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock worth $10,495,261,000 after buying an additional 81,587 shares during the period. 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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