Eli Lilly and Company (NYSE:LLY - Get Free Report) shares fell 8.5% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $825.00 and last traded at $822.58. 4,332,236 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 3,437,457 shares. The stock had previously closed at $898.95.
The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. UBS Group dropped their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $1,002.80.
Check Out Our Latest Stock Analysis on Eli Lilly and Company
Insider Buying and Selling
In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. FWG Holdings LLC increased its position in Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC raised its position in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after buying an additional 12 shares during the period. Applied Finance Capital Management LLC grew its position in Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after buying an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp increased its stake in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is owned by institutional investors.
Eli Lilly and Company Stock Performance
The firm has a fifty day simple moving average of $825.36 and a 200 day simple moving average of $816.37. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market cap of $782.34 billion, a price-to-earnings ratio of 70.46, a PEG ratio of 1.40 and a beta of 0.51.
About Eli Lilly and Company
(
Get Free Report)
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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