Danske Bank A S Sells 71,588 Shares of Eli Lilly and Company $LLY

Key Points

• Danske Bank cut its Eli Lilly stake by 9.3%, selling 71,588 shares in the third quarter. It retained 695,738 shares, worth about $805 million, making Lilly its 10th-largest holding.
• Lilly reported quarterly earnings of $7.48 per share, above the $5.71 analyst consensus, while revenue rose 38.6% year over year to $24.40 billion.
• Analysts’ overall view remained positive, with a “Moderate Buy” consensus and an average price target of $1,416.64; the company also declared a quarterly dividend of $1.73 per share.

Danske Bank A S reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 695,738 shares of the company's stock after selling 71,588 shares during the quarter. Eli Lilly and Company comprises 1.6% of Danske Bank A S's holdings, making the stock its 10th largest holding. Danske Bank A S owned about 0.07% of Eli Lilly and Company worth $805,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Coastal Bridge Advisors LLC bought a new stake in Eli Lilly and Company in the second quarter valued at approximately $2,959,000. Birinyi Associates Inc. boosted its stake in shares of Eli Lilly and Company by 32.6% during the third quarter. Birinyi Associates Inc. now owns 1,460 shares of the company's stock valued at $1,689,000 after purchasing an additional 359 shares during the period. Bernicke Wealth Management Ltd. purchased a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $5,001,000. Mosaic Family Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 70.6% during the second quarter. Mosaic Family Wealth Partners LLC now owns 3,455 shares of the company's stock valued at $4,144,000 after purchasing an additional 1,430 shares during the period. Finally, Canton Hathaway LLC grew its holdings in shares of Eli Lilly and Company by 160.4% in the third quarter. Canton Hathaway LLC now owns 2,273 shares of the company's stock worth $2,630,000 after purchasing an additional 1,400 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Latest Eli Lilly and Company News

These are some of the LLY news items that stood out recently:

• Positive Sentiment: Hims & Hers will offer Lilly’s FDA-approved Zepbound and Foundayo, potentially extending patient reach through another care platform. Separately, exchange-traded funds were reported to have added to their Lilly holdings, signaling investor demand. Hims partners with Lilly to offer weight-loss drugs
• Neutral Sentiment: Lilly is advancing an early-stage ALS drug study, but investors are still waiting for clinical data, so the update does not yet establish whether the treatment will succeed. Eli Lilly advances early ALS drug study
• Negative Sentiment: China Merchants Securities downgraded Lilly from “buy” to “hold,” providing a cautionary view amid the positive product and capacity news. China Merchants Securities stock recommendations

Eli Lilly and Company Stock Up 1.2%

Shares of NYSE:LLY traded up $16.77 during midday trading on Friday, reaching $1,444.05. The company's stock had a trading volume of 2,080,606 shares, compared to its average volume of 3,003,279. The firm has a 50 day moving average of $1,242.25 and a 200-day moving average of $1,110.30. The firm has a market capitalization of $1.36 trillion, a P/E ratio of 46.87, a PEG ratio of 1.71 and a beta of 0.40. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 1.17. Eli Lilly and Company has a 12-month low of $850.51 and a 12-month high of $1,460.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, topping analysts' consensus estimates of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The firm had revenue of $24.40 billion for the quarter, compared to analysts' expectations of $22.58 billion. During the same period in the previous year, the firm posted $7.02 EPS. The business's revenue for the quarter was up 38.6% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 35.70 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a $1.73 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. Eli Lilly and Company's payout ratio is 22.46%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LLY. Leerink Partners raised their price target on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. Morgan Stanley boosted their price objective on shares of Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. China Merchants Securities downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday. The Goldman Sachs Group reiterated a "buy" rating and set a $1,413.00 target price on shares of Eli Lilly and Company in a report on Tuesday, October 20th. Finally, Berenberg Bank raised Eli Lilly and Company from a "hold" rating to a "buy" rating and set a $1,400.00 target price on the stock in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,416.64.

Insider Activity

In related news, EVP Anat Hakim sold 5,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the transaction, the executive vice president owned 4,137 shares in the company, valued at $5,802,225.24. This represents a 54.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the transaction, the executive vice president directly owned 54,147 shares in the company, valued at $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Company Profile

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company's medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.

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