Eli Lilly and Company $LLY Holdings Cut by TD Asset Management Inc

Key Points

• TD Asset Management Inc has cut its holdings in Eli Lilly and Company by 6.9%, now owning approximately $945.9 million worth of shares.
• Eli Lilly reported a 37.6% year-over-year revenue increase for the last quarter, beating analyst expectations with a revenue of $15.56 billion.
• Insider buying activity was noted, with executive Daniel Skovronsky purchasing 1,000 shares, increasing his ownership in the company.

TD Asset Management Inc decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,213,430 shares of the company's stock after selling 89,716 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of TD Asset Management Inc's investment portfolio, making the stock its 28th largest position. TD Asset Management Inc owned approximately 0.13% of Eli Lilly and Company worth $945,905,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LLY. Brighton Jones LLC grew its position in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after buying an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after buying an additional 40 shares during the last quarter. Covestor Ltd grew its position in Eli Lilly and Company by 24.9% in the first quarter. Covestor Ltd now owns 426 shares of the company's stock worth $352,000 after buying an additional 85 shares during the last quarter. GAMMA Investing LLC grew its position in Eli Lilly and Company by 25.8% in the first quarter. GAMMA Investing LLC now owns 18,000 shares of the company's stock worth $14,866,000 after buying an additional 3,696 shares during the last quarter. Finally, Warner Financial Inc. grew its position in Eli Lilly and Company by 129.2% in the first quarter. Warner Financial Inc. now owns 1,123 shares of the company's stock worth $927,000 after buying an additional 633 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 0.8%

Eli Lilly and Company stock opened at $812.65 on Wednesday. The company's fifty day simple moving average is $744.36 and its 200-day simple moving average is $765.86. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $935.63. The stock has a market cap of $769.14 billion, a P/E ratio of 53.11, a P/E/G ratio of 1.17 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating the consensus estimate 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 business had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the previous year, the company posted $3.92 EPS. 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. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Daniel Skovronsky acquired 1,000 shares of Eli Lilly and Company stock in a transaction that occurred 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 purchase, the executive vice president owned 137,660 shares in the company, valued at approximately $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gabrielle Sulzberger acquired 117 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, with a total value of $75,018.06. Following the purchase, the director owned 2,703 shares in the company, valued at $1,733,109.54. The trade was a 4.52% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 4,514 shares of company stock worth $2,894,841 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $875.00 to $948.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. UBS Group lowered their price objective on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Berenberg Bank reiterated a "hold" rating and set a $830.00 price objective (down from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. Morgan Stanley lowered their price objective on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an "overweight" rating on the stock in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $948.06.

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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