Eli Lilly and Company (NYSE:LLY) Trading Down 0.2% on Analyst Downgrade

Shares of Eli Lilly and Company (NYSE:LLY) dropped 0.2% during trading on Tuesday after Citigroup lowered their price target on the stock from $1,250.00 to $1,190.00. Citigroup currently has a buy rating on the stock. Eli Lilly and Company traded as low as $800.11 and last traded at $806.50. Approximately 703,587 shares changed hands during trading, a decline of 82% from the average daily volume of 3,992,015 shares. The stock had previously closed at $808.17.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Barclays dropped their price target on 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. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $997.22.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC grew its stake in Eli Lilly and Company by 94.2% in the second quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock valued at $1,480,000 after purchasing an additional 793 shares in the last quarter. Algert Global LLC raised its position in Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $2,114,000. Wallace Advisory Group LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $321,000. Finally, Regal Investment Advisors LLC grew its stake in Eli Lilly and Company by 0.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,323 shares of the company’s stock valued at $4,819,000 after buying an additional 16 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

The stock’s 50 day moving average is $778.30 and its 200 day moving average is $847.30. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market cap of $765.64 billion, a price-to-earnings ratio of 87.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. Analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its board has initiated a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.