Eli Lilly and Company (NYSE:LLY) Trading Down 2% – What’s Next?

Eli Lilly and Company (NYSE:LLY) fell 2% during mid-day trading on Tuesday . The stock traded as low as $909.65 and last traded at $911.16. 715,946 shares changed hands during trading, a decline of 76% from the average session volume of 2,990,699 shares. The stock had previously closed at $929.51.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LLY. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays boosted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Eli Lilly and Company Trading Up 0.1 %

The business has a 50 day moving average of $919.25 and a 200-day moving average of $855.84. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $871.69 billion, a P/E ratio of 135.74, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Institutional Trading of Eli Lilly and Company

A number of large investors have recently bought and sold shares of the business. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Cedar Mountain Advisors LLC boosted its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC boosted its position in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $45,000. 82.53% of the stock is owned by institutional investors.

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.