Eli Lilly and Company $LLY Holdings Cut by Palisade Asset Management LLC

Key Points

• Palisade Asset Management cut its Eli Lilly stake by 7.8% in the third quarter, selling 1,100 shares and retaining 13,093 shares valued at about $15.15 million.
• Lilly beat quarterly estimates, reporting adjusted earnings of $7.48 per share and revenue of $24.40 billion, up 38.6% year over year.
• Analysts’ consensus rating was Moderate Buy, while the article cited expanding access to Lilly’s obesity drugs as an opportunity and GLP-1 price competition as a risk.

Palisade Asset Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,093 shares of the company's stock after selling 1,100 shares during the period. Eli Lilly and Company makes up 1.4% of Palisade Asset Management LLC's investment portfolio, making the stock its 23rd biggest holding. Palisade Asset Management LLC's holdings in Eli Lilly and Company were worth $15,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LLY. Integrity Financial Corp WA raised its stake in shares of Eli Lilly and Company by 1.3% during the second quarter. Integrity Financial Corp WA now owns 639 shares of the company's stock worth $767,000 after purchasing an additional 8 shares during the last quarter. LCM Capital Management Inc grew its position in Eli Lilly and Company by 3.3% in the 3rd quarter. LCM Capital Management Inc now owns 253 shares of the company's stock valued at $293,000 after buying an additional 8 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its position in Eli Lilly and Company by 4.1% in the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 203 shares of the company's stock valued at $235,000 after buying an additional 8 shares during the last quarter. Financial Network Wealth Advisors LLC grew its position in Eli Lilly and Company by 5.6% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 151 shares of the company's stock valued at $175,000 after buying an additional 8 shares during the last quarter. Finally, Eads & Heald Wealth Management increased its stake in Eli Lilly and Company by 0.5% in the 3rd quarter. Eads & Heald Wealth Management now owns 1,469 shares of the company's stock valued at $1,700,000 after buying an additional 8 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Eli Lilly and Company

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Lilly and Hims & Hers agreed to offer FDA-approved Zepbound and Foundayo through Hims & Hers’ telehealth platform. Eligible patients with a prescription can access Lilly’s self-pay prices—reportedly starting at $149—without leaving the platform. The deal could widen patient access and Lilly’s reach in the competitive obesity-treatment market. Lilly and Hims & Hers expand access to FDA-approved Lilly medicines
• Positive Sentiment: New Phase 3 results for investigational retatrutide showed substantial reductions in weight and knee pain among adults with obesity and knee osteoarthritis. Lilly also reported positive Phase 3b results for combining Taltz and Zepbound in people with psoriatic arthritis and obesity, supporting the potential of its medicines in additional patient groups. Lilly to showcase new retatrutide, Taltz and Zepbound data
• Negative Sentiment: Price competition across the GLP-1 market remains a risk to Lilly’s growth and drug margins, as branded treatments compete with lower-priced options and providers seek self-pay patients. Eli Lilly’s GLP-1 franchise faces growing price competition

Analyst Ratings Changes

A number of brokerages have commented on LLY. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,413.00 target price on shares of Eli Lilly and Company in a report on Tuesday, October 20th. Scotiabank boosted their price target on shares of Eli Lilly and Company from $1,300.00 to $1,605.00 and gave the stock a "sector outperform" rating in a research note on Friday, October 30th. Cantor Fitzgerald increased their price target on shares of Eli Lilly and Company from $1,440.00 to $1,600.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $1,450.00 price objective on shares of Eli Lilly and Company in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus price target of $1,404.14.

Eli Lilly and Company Trading Up 0.5%

Shares of LLY stock opened at $1,372.15 on Friday. The business's fifty day moving average price is $1,215.24 and its 200 day moving average price is $1,101.16. The firm has a market capitalization of $1.29 trillion, a PE ratio of 44.54, a P/E/G ratio of 1.69 and a beta of 0.40. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. Eli Lilly and Company has a 1-year low of $850.51 and a 1-year high of $1,453.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, beating analysts' consensus estimates of $5.71 by $1.77. The company had revenue of $24.40 billion during the quarter, compared to the consensus estimate of $22.58 billion. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. Eli Lilly and Company's quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned $7.02 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 22.46%.

Insider Activity

In other Eli Lilly and Company news, EVP Anat Hakim sold 5,000 shares of the company's stock in a transaction dated 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 directly owned 4,137 shares in the company, valued at approximately $5,802,225.24. This represents a 54.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald A. Zakrowski sold 2,000 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the transaction, the chief accounting officer owned 1,526 shares in the company, valued at $1,808,325.26. The trade was a 56.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,500 shares of company stock worth $17,020,770 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

About Eli Lilly and Company

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.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.

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