Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.3% After Analyst Downgrade

Shares of Eli Lilly and Company (NYSE:LLY) were down 0.3% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $1,100.00 to $1,050.00. UBS Group currently has a buy rating on the stock. Eli Lilly and Company traded as low as $812.03 and last traded at $821.39. Approximately 747,819 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 3,467,154 shares. The stock had previously closed at $823.62.

Other research analysts also recently issued research reports about the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. Citigroup reduced their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.80.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter worth about $8,407,908,000. Proficio Capital Partners LLC increased its position in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $779.07 billion, a P/E ratio of 70.17, a PEG ratio of 1.40 and a beta of 0.51. The company’s 50 day moving average price is $823.48 and its 200 day moving average price is $814.29.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, May 1st. The company reported $3.34 EPS 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 firm’s quarterly revenue was up 45.2% on a year-over-year basis. During the same period last year, the business posted $2.58 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. Eli Lilly and Company’s payout ratio is presently 51.24%.

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.