Eli Lilly and Company $LLY Shares Acquired by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC increased its holdings in Eli Lilly and Company by 11.2% during the 2nd quarter, owning 7,240 shares worth approximately $5.64 million.
• Multiple analysts have set new price targets for Eli Lilly, with Morgan Stanley raising its target to $1,135.00 while others have reduced their targets significantly, indicating varied market expectations.
• Insider buying has occurred, with EVP Daniel Skovronsky acquiring 1,000 shares at an average price of $634.40, suggesting confidence in the company's future prospects.

Mattern Capital Management LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,240 shares of the company's stock after acquiring an additional 728 shares during the period. Mattern Capital Management LLC's holdings in Eli Lilly and Company were worth $5,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. WestEnd Advisors LLC raised its position in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 1st quarter valued at approximately $27,000. Citizens National Bank Trust Department raised its position in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 1st quarter valued at approximately $40,000. Finally, TD Capital Management LLC raised its position in shares of Eli Lilly and Company by 129.2% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the company's stock valued at $46,000 after acquiring an additional 31 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Cantor Fitzgerald dropped their target price on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. UBS Group dropped their target price on 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. Finally, Leerink Partners reaffirmed a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $939.61.

Insiders Place Their Bets

In other news, EVP Daniel Skovronsky bought 1,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This trade represents a 0.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gabrielle Sulzberger purchased 117 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the transaction, the director owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $820.69 on Friday. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $937.00. The firm's 50-day simple moving average is $734.03 and its 200 day simple moving average is $766.34. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a market cap of $776.75 billion, a P/E ratio of 53.64, a P/E/G ratio of 1.15 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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 firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities analysts expect 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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