BOCHK Asset Management Ltd Invests $390,000 in Eli Lilly and Company $LLY

Key Points

• BOCHK Asset Management Ltd has made a new investment of $390,000 in Eli Lilly and Company, acquiring 500 shares during the second quarter.
• Eli Lilly reported a strong quarterly earnings performance, with $6.31 EPS, exceeding expectations and showing a 37.6% year-over-year revenue increase.
• Insiders, including the CEO and a director, have recently purchased shares, indicating increased confidence in the company's future performance.

BOCHK Asset Management Ltd purchased a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 500 shares of the company's stock, valued at approximately $390,000.

A number of other large investors have also added to or reduced their stakes in the stock. Duquesne Family Office LLC raised its stake in shares of Eli Lilly and Company by 52.5% in the first quarter. Duquesne Family Office LLC now owns 94,830 shares of the company's stock valued at $78,321,000 after buying an additional 32,640 shares during the period. Corient IA LLC purchased a new stake in Eli Lilly and Company in the 1st quarter worth about $570,000. LS Investment Advisors LLC raised its stake in Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after acquiring an additional 40 shares during the period. Cutter Capital Management LP purchased a new stake in Eli Lilly and Company during the first quarter valued at about $14,866,000. Finally, Emerald Advisors LLC lifted its holdings in Eli Lilly and Company by 60.8% during the second quarter. Emerald Advisors LLC now owns 1,021 shares of the company's stock valued at $796,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $825.92 on Thursday. The stock has a market cap of $781.70 billion, a price-to-earnings ratio of 53.98, a PEG ratio of 1.06 and a beta of 0.47. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The business has a 50-day simple moving average of $733.71 and a 200 day simple moving average of $766.37. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $937.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter last year, the company posted $3.92 EPS. The company's revenue for the quarter was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In related news, Director J Erik Fyrwald purchased 1,565 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the purchase, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. This represents a 2.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David A. Ricks purchased 1,632 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the acquisition, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock valued at $2,894,841 over the last quarter. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research reports. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Leerink Partners reiterated a "market perform" rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, August 7th. JPMorgan Chase & Co. dropped their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 16th. UBS Group reduced their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, DZ Bank raised Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $939.61.

Eli Lilly and Company Profile

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.

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