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

Eli Lilly and Company (NYSE:LLY) saw its stock price decrease by 1% on Thursday. The shares dropped to a low of $890.70 before closing at $894.54. Throughout the day, around 504,112 shares were exchanged, representing a significant decline of 83% compared to the average daily trading volume of 2,956,188 shares. The previous close was at $903.25.

Wall Street Analyst Insights

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Multiple research firms have recently provided insights on LLY's stock. For instance, Guggenheim raised their target price from $884.00 to $1,030.00, giving it a "buy" rating on August 16. BMO Capital Markets also increased their target price from $1,001.00 to $1,101.00, maintaining an "outperform" rating on August 9. Furthermore, Deutsche Bank reiterated a "buy" rating with a target price of $1,025.00 on October 3. In a report dated September 5, Evercore ISI upgraded the shares to a "hold" rating. Lastly, Morgan Stanley reaffirmed an "overweight" rating with a price target of $1,106.00 on August 27. Currently, three analysts have assigned a hold rating, while seventeen have rated it as a buy. According to MarketBeat.com, Eli Lilly and Company holds an average rating of "Moderate Buy" and a mean target price of $1,002.24.

Eli Lilly and Company Price Performance

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

Eli Lilly recently reported its quarterly earnings on August 8. The company posted an impressive $3.92 earnings per share, surpassing experts' expectations of $2.64 by $1.28. The firm also achieved a net margin of 18.86% and impressive return on equity of 67.52%. Total revenue reached $11.30 billion, exceeding anticipated figures of $9.83 billion. Analysts predict that Eli Lilly will record an earnings per share (EPS) of 16.49 for the current fiscal year.

Institutional Inflows and Outflows

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Recently, several institutional investors have altered their positions in LLY stock. Vanguard Group Inc. increased its stake by 1.6% during the first quarter, now owning 72,745,011 shares valued at approximately $56.59 billion after adding 1,133,810 shares. International Assets Investment Management LLC dramatically boosted its position by 87,091.7% in the third quarter, acquiring an additional 12,448,888 shares to reach 12,463,182 shares valued at $11.04 billion. In the first quarter, Capital Research Global Investors raised its stake by 6.0%, now holding 8,031,531 shares worth $6.25 billion. Additionally, Capital International Investors increased their holdings by 5.1%, owning 6,972,393 shares valued at $5.42 billion. Lastly, GQG Partners LLC raised its position by 20.2%, now holding 3,848,886 shares worth approximately $2.99 billion. Overall, institutional investors control 82.53% of Eli Lilly's stock.

About Eli Lilly and Company

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Eli Lilly and Company specializes in the discovery, development, and marketing of human pharmaceuticals on a global scale. Their product offerings include treatments for diabetes such as Basaglar and Humalog, as well as medications for obesity like Zepbound.

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This information is generated using advanced technology and financial data to provide readers with timely and accurate updates. It has been reviewed by our editorial team before publication.

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