Connors Investor Services Inc. Sells 2,387 Shares of Eli Lilly and Company $LLY

Key Points

• Connors Investor Services Inc. reduced its stake in Eli Lilly and Company by 11% during Q2, selling 2,387 shares, and currently holds 19,248 shares valued at approximately $15 million.
• Multiple institutional investors have modified their positions in Eli Lilly, with significant increases from firms such as OLD Point Trust & Financial Services and LifeWealth Investments.
• Analysts have set varying price targets for Eli Lilly, with a consensus target of $938.61 and ratings ranging from "Strong Buy" to "Hold."

Connors Investor Services Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,248 shares of the company's stock after selling 2,387 shares during the quarter. Connors Investor Services Inc.'s holdings in Eli Lilly and Company were worth $15,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principle Wealth Partners LLC increased its position in Eli Lilly and Company by 2.1% in the 2nd quarter. Principle Wealth Partners LLC now owns 6,755 shares of the company's stock valued at $5,266,000 after acquiring an additional 139 shares during the period. Prosperity Financial Group Inc. increased its position in Eli Lilly and Company by 2.3% in the 2nd quarter. Prosperity Financial Group Inc. now owns 2,080 shares of the company's stock valued at $1,622,000 after acquiring an additional 46 shares during the period. Sonata Capital Group Inc. bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $242,000. LifeWealth Investments LLC boosted its stake in shares of Eli Lilly and Company by 14.1% in the 2nd quarter. LifeWealth Investments LLC now owns 803 shares of the company's stock valued at $626,000 after purchasing an additional 99 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A boosted its stake in shares of Eli Lilly and Company by 21.3% in the 2nd quarter. OLD Point Trust & Financial Services N A now owns 228 shares of the company's stock valued at $178,000 after purchasing an additional 40 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the topic of several research reports. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. lowered their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating for the company in a report on Tuesday, September 16th. Guggenheim reiterated a "buy" rating and issued a $948.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 16th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eli Lilly and Company in a report on Wednesday, October 8th. Finally, Leerink Partners reiterated a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $938.61.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $812.33 on Thursday. 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 firm has a market capitalization of $768.84 billion, a PE ratio of 53.09, a P/E/G ratio of 1.14 and a beta of 0.47. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $935.63. The company has a 50-day moving average price of $762.81 and a two-hundred day moving average price of $766.75.

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

Insider Buying and Selling

In other news, Director J Erik Fyrwald acquired 1,565 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the transaction, the director owned 74,578 shares of the company's stock, valued at $47,903,686.74. The trade was 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, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the purchase, the executive vice president directly owned 137,660 shares of the company's stock, valued at $87,331,504. This represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 4,514 shares of company stock valued at $2,894,841 in the last three months. Insiders own 0.13% of the company's stock.

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.

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