Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.8% - Here's What Happened

Key Points

• Eli Lilly's stock price fell by 1.8% to $818.60, with trading volume significantly lower at 2.16 million shares compared to the average of 4.09 million shares.
• Several research firms have revised their target prices for Eli Lilly, with JPMorgan lowering its target from $1,100 to $1,050, while Deutsche Bank set a new target of $900.
• The company's latest earnings report showed a quarterly revenue increase of 37.6% year-over-year with earnings per share of $6.31, beating analyst expectations.

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) fell 1.8% on Monday . The stock traded as low as $817.35 and last traded at $818.60. 2,161,597 shares changed hands during trading, a decline of 47% from the average session volume of 4,090,171 shares. The stock had previously closed at $833.49.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. JPMorgan Chase & Co. reduced their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Daiwa Capital Markets downgraded Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target on the stock. in a research note on Sunday, August 17th. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, Daiwa America downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $948.06.

Eli Lilly and Company Trading Down 1.8%

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 business has a 50-day moving average of $742.42 and a 200-day moving average of $765.55. The firm has a market cap of $774.77 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 1.18 and a beta of 0.47.

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

Insider Activity

In other Eli Lilly and Company news, EVP Daniel Skovronsky purchased 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jamere Jackson purchased 200 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 4,514 shares of company stock valued at $2,894,841. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently made changes to their positions in the company. SK Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 8.5% during the third quarter. SK Wealth Management LLC now owns 331 shares of the company's stock worth $253,000 after acquiring an additional 26 shares during the period. Navigoe LLC boosted its holdings in shares of Eli Lilly and Company by 32.7% during the third quarter. Navigoe LLC now owns 134 shares of the company's stock worth $102,000 after acquiring an additional 33 shares during the period. Spinnaker Investment Group LLC bought a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $204,000. Charles Schwab Trust Co boosted its holdings in shares of Eli Lilly and Company by 151.4% during the third quarter. Charles Schwab Trust Co now owns 1,252 shares of the company's stock worth $956,000 after acquiring an additional 754 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in shares of Eli Lilly and Company by 4.4% during the third quarter. Sound Income Strategies LLC now owns 5,493 shares of the company's stock worth $4,191,000 after acquiring an additional 233 shares during the period. Institutional investors own 82.53% of the company's stock.

About Eli Lilly and Company

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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