Eli Lilly and Company (NYSE:LLY) Trading Down 1.7% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) dropped 1.7% during trading on Monday . The stock traded as low as $762.03 and last traded at $767.12. Approximately 834,820 shares were traded during trading, a decline of 77% from the average daily volume of 3,657,191 shares. The stock had previously closed at $780.67.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Price Performance

The stock's 50-day moving average price is $773.61 and its 200 day moving average price is $800.26. The firm has a market capitalization of $729.49 billion, a price-to-earnings ratio of 62.72, a PEG ratio of 1.14 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 data 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). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. Eli Lilly and Company's revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Norges Bank acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $8,407,908,000. Nuveen LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $4,613,912,000. Finally, Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after acquiring an additional 4,975,395 shares during the period. Hedge funds and other 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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