Eli Lilly and Company (NYSE:LLY) Stock Price Down 1% - Here's Why

Eli Lilly and Company (NYSE:LLY)'s stock price experienced a decrease of 1% on Thursday. It traded as low as $890.70 and was last seen at $894.54. Around 504,112 shares were exchanged during mid-day trading, marking an 83% drop from the usual daily trading volume of 2,956,188 shares. The previous closing price for the stock was $903.25.

Wall Street Analyst Insights

Several research firms have recently provided their insights on Eli Lilly's stock. Guggenheim raised their target price for the shares from $884.00 to $1,030.00 and assigned a "buy" rating in a research note on August 16. BMO Capital Markets also increased its target price from $1,001.00 to $1,101.00 and rated the stock as "outperform" on August 9. Deutsche Bank reaffirmed their "buy" rating with a target price of $1,025.00 on October 3. Evercore ISI upgraded their rating to "hold" on September 5, while Morgan Stanley maintained their "overweight" rating with a target price of $1,106.00 on August 27. Overall, three analysts hold the stock at a "hold" rating, while seventeen have given it a "buy" rating. According to MarketBeat.com, Eli Lilly has an average rating of "Moderate Buy" with a target price of approximately $1,002.24.

Eli Lilly's Price Performance

The company has a market capitalization of $848.34 billion. Its price-to-earnings (PE) ratio stands at 131.74, with a price-to-earnings growth (PEG) ratio of 2.79, and a beta of 0.42. Eli Lilly's current ratio is 1.11, its quick ratio is 0.87, and it has a debt-to-equity ratio of 1.74. The 50-day moving average price for the stock is $921.12, and the 200-day moving average is $860.74.

Eli Lilly's latest quarterly earnings report was on August 8, where the company announced earnings per share of $3.92 for the quarter, surpassing analysts' expectations of $2.64 by $1.28. The company reported a net margin of 18.86% and a return on equity of 67.52%. Total revenue for the quarter reached $11.30 billion, significantly exceeding analysts' forecasts of $9.83 billion. Analysts predict that Eli Lilly will achieve an earnings per share of 16.49 for the current fiscal year.

Institutional Investors' Actions

Recently, several institutional investors have adjusted their stakes in Eli Lilly. Vanguard Group Inc. has increased its position by 1.6% in the first quarter, holding 72,745,011 shares valued at $56,592,709,000 after acquiring an additional 1,133,810 shares. International Assets Investment Management LLC surged its stake by 87,091.7% during the third quarter, now owning 12,463,182 shares valued at $11,041,631,000 after a substantial purchase of 12,448,888 shares. Capital Research Global Investors boosted its stake by 6.0%, while Capital International Investors increased their position by 5.1%. GQG Partners LLC also raised their stake by 20.2% in the first quarter. Overall, hedge funds and institutional investors hold 82.53% of the company's stock.

About Eli Lilly and Company

Eli Lilly and Company is engaged in the discovery, development, and marketing of human pharmaceuticals globally. The company offers a range of products including Basaglar, Humalog, Humulin, Jardiance, Mounjaro, and Trulicity for diabetes management, as well as Zepbound for obesity treatment.

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