Eli Lilly and Company (NYSE:LLY) Stock Price Down 2.6% - Here's What Happened

Key Points

• Eli Lilly's stock price dropped by 2.6%, closing at $833.08, after reaching a low of $830.11 during trading.
• Analysts have recently downgraded the stock, with Leerink Partners setting a price target of $715.00, while the consensus target remains at $948.56.
• The company's latest earnings report showcased a strong performance, with an EPS of $6.31, exceeding estimates, and revenue growth of 37.6% year-over-year.

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price was down 2.6% during trading on Friday . The stock traded as low as $830.11 and last traded at $833.08. Approximately 3,368,848 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 4,099,690 shares. The stock had previously closed at $855.35.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Leerink Partners reiterated a "market perform" rating and set a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Daiwa America downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Eli Lilly and Company in a research note on Wednesday. Wall Street Zen lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Leerink Partnrs downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $948.56.

Eli Lilly and Company Trading Down 2.6%

The stock has a market cap of $788.47 billion, a P/E ratio of 54.45, a PEG ratio of 1.18 and a beta of 0.47. The firm's 50-day simple moving average is $740.99 and its 200 day simple moving average is $766.49. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

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

Insider Activity

In related news, Director J Erik Fyrwald acquired 1,565 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the purchase, the director directly owned 74,578 shares in the company, valued at $47,903,686.74. The trade was a 2.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Skovronsky purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average price of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock worth $2,894,841 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of LLY. Precedent Wealth Partners LLC raised its stake in Eli Lilly and Company by 15.3% during the 2nd quarter. Precedent Wealth Partners LLC now owns 294 shares of the company's stock valued at $229,000 after purchasing an additional 39 shares during the last quarter. Capital Advisors Inc. OK raised its position in shares of Eli Lilly and Company by 6.8% during the second quarter. Capital Advisors Inc. OK now owns 6,747 shares of the company's stock valued at $5,260,000 after buying an additional 429 shares during the last quarter. Family CFO Inc acquired a new position in shares of Eli Lilly and Company during the second quarter valued at about $54,000. Duquesne Family Office LLC raised its holdings in Eli Lilly and Company by 52.5% in the 1st quarter. Duquesne Family Office LLC now owns 94,830 shares of the company's stock valued at $78,321,000 after acquiring an additional 32,640 shares in the last quarter. Finally, Corient IA LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at approximately $570,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.