Cidel Asset Management Inc. Buys 5,476 Shares of Eli Lilly and Company $LLY

Key Points

• Cidel Asset Management Inc. increased its holdings in Eli Lilly and Company by 35% in Q2, acquiring an additional 5,476 shares, bringing its total to 21,135 shares valued at approximately $16.475 million.
• Insider transactions include purchases by EVP Daniel Skovronsky and Director Jamere Jackson, indicating management confidence in the stock's performance.
• Eli Lilly reported earnings of $6.31 per share for the last quarter, significantly surpassing analysts' expectations, and set guidance for FY 2025 EPS between $21.750 and $23.000.

Cidel Asset Management Inc. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 35.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,135 shares of the company's stock after buying an additional 5,476 shares during the quarter. Cidel Asset Management Inc.'s holdings in Eli Lilly and Company were worth $16,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LLY. PNC Financial Services Group Inc. increased its holdings in Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares in the last quarter. Nuveen LLC acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $4,613,912,000. Vanguard Group Inc. grew its stake in Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Cohen Investment Advisors LLC grew its stake in Eli Lilly and Company by 7,975.5% during the first quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company's stock worth $647,225,000 after purchasing an additional 773,947 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Eli Lilly and Company by 106.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company's stock valued at $1,154,508,000 after acquiring an additional 765,010 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Daniel Skovronsky purchased 1,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This trade represents a 0.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jamere Jackson purchased 200 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,514 shares of company stock worth $2,894,841 over the last three months. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Trading Down 1.9%

Shares of LLY stock opened at $803.53 on Friday. The stock has a market capitalization of $760.51 billion, a PE ratio of 52.52, a P/E/G ratio of 1.15 and a beta of 0.47. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $935.63. The business has a 50-day moving average of $753.09 and a 200 day moving average of $765.86. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

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

Analysts Set New Price Targets

LLY has been the subject of a number of research reports. Cantor Fitzgerald set a $925.00 price objective on Eli Lilly and Company and gave the company an "overweight" rating in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Morgan Stanley reduced their price target on Eli Lilly and Company from $1,028.00 to $1,023.00 and set an "overweight" rating for the company in a research report on Friday, October 3rd. Hsbc Global Res upgraded Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Finally, Wall Street Zen cut Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $939.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.