Corundum Group Inc. Increases Position in Eli Lilly and Company $LLY

Key Points

• Corundum Group Inc. increased its stake in Eli Lilly and Company by 55.9%, acquiring an additional 584 shares, bringing its total holdings to 1,629 shares worth approximately $1.27 million.
• Notable hedge funds, including PNC Financial Services and Vanguard Group, have significantly increased their positions in Eli Lilly, indicating strong institutional interest in the company.
• In its most recent earnings report, Eli Lilly reported $6.31 earnings per share, exceeding analyst expectations, and providing a positive outlook with FY 2025 guidance estimated between $21.750-$23.000 EPS.

Corundum Group Inc. increased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 55.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,629 shares of the company's stock after acquiring an additional 584 shares during the period. Corundum Group Inc.'s holdings in Eli Lilly and Company were worth $1,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. PNC Financial Services Group Inc. lifted its stake in Eli Lilly and Company by 97.5% in the first 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 during the last quarter. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 6.7% in 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 last quarter. Wellington Management Group LLP lifted its stake in Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock worth $10,495,261,000 after purchasing an additional 81,587 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Eli Lilly and Company by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company's stock worth $4,808,443,000 after purchasing an additional 682,203 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Eli Lilly and Company in the first quarter worth $4,613,912,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gabrielle Sulzberger purchased 117 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $641.18 per share, with a total value of $75,018.06. Following the completion of the purchase, the director directly owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David A. Ricks acquired 1,632 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the acquisition, the chief executive officer owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 4,514 shares of company stock valued at $2,894,841 over the last quarter. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on LLY. Leerink Partners reissued a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. DZ Bank raised shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Berenberg Bank reaffirmed a "hold" rating and set a $830.00 price objective (down from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $933.39.

Eli Lilly and Company Price Performance

LLY stock opened at $840.46 on Friday. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $937.00. The company has a market cap of $795.47 billion, a P/E ratio of 54.93, a PEG ratio of 1.14 and a beta of 0.47. The firm has a 50-day moving average of $734.60 and a 200 day moving average of $766.47. 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 released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.40 billion. During the same period in the prior year, the firm earned $3.92 earnings per share. Eli Lilly and Company's revenue 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, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

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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