Eli Lilly and Company (NYSE:LLY) Trading Down 1% - Here's Why

Key Points

• Eli Lilly's stock price decreased by 1%, trading as low as $743.17, with a total of approximately 2.9 million shares traded, a 29% decline from its average volume.
• The company's quarterly earnings report exceeded expectations, with earnings per share of $6.31, surpassing analysts' estimates of $5.59, contributing to a 37.6% year-over-year revenue increase.
• Recent analyst ratings show mixed sentiment, with one strong buy, fourteen buy, and nine hold ratings, alongside a revised average price target of $939.61.

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price dropped 1% during mid-day trading on Tuesday . The stock traded as low as $743.17 and last traded at $747.29. Approximately 2,901,058 shares were traded during trading, a decline of 29% from the average daily volume of 4,089,576 shares. The stock had previously closed at $754.95.

Analyst Ratings Changes

LLY has been the subject of several research reports. Hsbc Global Res upgraded Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Berenberg Bank restated a "hold" rating and set a $830.00 price objective (down from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. UBS Group cut their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Guggenheim cut their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $939.61.

Eli Lilly and Company Stock Performance

The stock has a 50-day simple moving average of $737.49 and a 200-day simple moving average of $769.01. 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 stock has a market cap of $707.28 billion, a PE ratio of 48.84, a P/E/G ratio of 1.05 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results 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 25.91% and a return on equity of 92.72%. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the prior year, the company earned $3.92 EPS. The firm's revenue was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David A. Ricks purchased 1,632 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares in the company, valued at $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock worth $2,894,841 in the last quarter. Insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted 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 purchasing an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 14,852,076 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Eli Lilly and Company by 78,621.2% during the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company's stock worth $9,005,392,000 after purchasing an additional 11,537,661 shares during the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company during the second quarter worth about $8,827,714,000. Finally, Nuveen LLC bought a new position in shares of Eli Lilly and Company during the first quarter worth about $4,613,912,000. Institutional investors and hedge funds 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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