Eli Lilly and Company (NYSE:LLY) Trading Down 0.8% After Analyst Downgrade

Eli Lilly and Company (NYSE:LLY)’s share price fell 0.8% on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $1,025.00 to $1,015.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Eli Lilly and Company traded as low as $799.00 and last traded at $799.75. 778,297 shares traded hands during trading, a decline of 74% from the average session volume of 3,049,394 shares. The stock had previously closed at $806.14.

A number of other research analysts also recently weighed in on LLY. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,008.41.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares during the last quarter. Quent Capital LLC increased its stake in Eli Lilly and Company by 5.3% in the 1st quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock worth $3,846,000 after buying an additional 249 shares during the period. Mutual Advisors LLC increased its stake in Eli Lilly and Company by 404.8% in the 1st quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after buying an additional 50,197 shares during the period. Whittier Trust Co. increased its stake in Eli Lilly and Company by 52.2% in the 1st quarter. Whittier Trust Co. now owns 75,487 shares of the company’s stock worth $58,725,000 after buying an additional 25,877 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Eli Lilly and Company by 155.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 19,745 shares of the company’s stock worth $15,361,000 after buying an additional 12,004 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.9 %

The company has a market cap of $758.36 billion, a PE ratio of 86.46, a P/E/G ratio of 3.09 and a beta of 0.43. The company’s 50 day moving average is $908.15 and its 200 day moving average is $867.39. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, analysts predict that Eli Lilly and Company will post 13.23 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.