Eli Lilly and Company (NYSE:LLY) Stock Price Down 3.4% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report) traded down 3.4% during mid-day trading on Tuesday . The stock traded as low as $775.30 and last traded at $772.55. 1,202,254 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 3,661,755 shares. The stock had previously closed at $799.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LLY shares. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. Guggenheim increased their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Stock Performance

The firm has a market cap of $731.45 billion, a P/E ratio of 62.80, a price-to-earnings-growth ratio of 1.11 and a beta of 0.40. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The business's fifty day simple moving average is $767.03 and its 200-day simple moving average is $799.83.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's revenue was up 45.2% on a year-over-year basis. During the same period last year, the business earned $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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the company. WestEnd Advisors LLC lifted its position in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $27,000. Citizens National Bank Trust Department lifted its position in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $40,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $43,000. 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.