Eli Lilly and Company $LLY is Kornitzer Capital Management Inc. KS's 3rd Largest Position

Key Points

• Kornitzer Capital Management Inc. reduced its stake in Eli Lilly and Company by 0.8%, making it the firm's 3rd largest holding with approximately $94 million in total value.
• Eli Lilly and Company reported a quarterly earnings per share (EPS) of $6.31, surpassing expectations and marking a 37.6% revenue increase year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Eli Lilly, with an average target price of $938.61, reflecting optimism around the company's stock performance.

Kornitzer Capital Management Inc. KS lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,600 shares of the company's stock after selling 995 shares during the quarter. Eli Lilly and Company comprises about 1.9% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 3rd largest holding. Kornitzer Capital Management Inc. KS's holdings in Eli Lilly and Company were worth $94,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares during the period. Wellington Management Group LLP boosted its holdings in Eli Lilly and Company by 0.6% in the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock worth $10,495,261,000 after acquiring an additional 81,587 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Eli Lilly and Company by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company's stock valued at $4,808,443,000 after buying an additional 682,203 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $4,613,912,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LLY. Leerink Partners reiterated a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Guggenheim reissued a "buy" rating and issued a $948.00 price objective on shares of Eli Lilly and Company in a report on Thursday, October 16th. The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $876.00 to $879.00 and gave the company a "buy" rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $938.61.

Eli Lilly and Company Stock Performance

LLY traded up $4.82 during trading hours on Friday, hitting $825.86. 2,207,377 shares of the stock were exchanged, compared to its average volume of 3,510,202. The stock has a 50-day simple moving average of $768.01 and a 200-day simple moving average of $768.14. 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 $781.65 billion, a price-to-earnings ratio of 53.98, a price-to-earnings-growth ratio of 1.18 and a beta of 0.47. 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 posted its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm's quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gabrielle Sulzberger bought 117 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the purchase, the director owned 2,703 shares of the company's stock, valued at $1,733,109.54. This represents a 4.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jamere Jackson bought 200 shares of the business's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. The trade was a 2.17% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock valued at $2,894,841 in the last three months. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company 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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