Eli Lilly and Company $LLY Shares Bought by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Eli Lilly by 9.9%, holding 25,240 shares valued at approximately $19.68 million.
• Eli Lilly's most recent quarterly earnings exceeded expectations, reporting $6.31 EPS and $15.56 billion in revenue, up 37.6% year-over-year.
• The company's stock is rated as a Moderate Buy, with an average price target of $939.61 after several analysts updated their ratings and price objectives.

Exchange Traded Concepts LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,240 shares of the company's stock after acquiring an additional 2,284 shares during the quarter. Exchange Traded Concepts LLC's holdings in Eli Lilly and Company were worth $19,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $27,000. Citizens National Bank Trust Department lifted its holdings in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $43,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gabrielle Sulzberger purchased 117 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $641.18 per share, with a total value of $75,018.06. Following the completion of the acquisition, the director directly owned 2,703 shares in the company, valued at $1,733,109.54. The trade was a 4.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Skovronsky purchased 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $634.40 per share, with a total value of $634,400.00. Following the completion of the acquisition, the executive vice president owned 137,660 shares of the company's stock, valued at approximately $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 4,514 shares of company stock valued at $2,894,841 in the last 90 days. Insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LLY shares. UBS Group reduced their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a report on Friday, August 8th. Berenberg Bank reissued a "hold" rating and issued a $830.00 price target (down from $970.00) on shares of Eli Lilly and Company in a report on Wednesday, September 17th. Daiwa Capital Markets cut Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target for the company. in a report on Sunday, August 17th. Daiwa America cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Guggenheim reduced their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $939.61.

Eli Lilly and Company Price Performance

LLY stock traded up $3.33 during midday trading on Monday, hitting $755.32. 2,524,436 shares of the stock were exchanged, compared to its average volume of 3,388,311. The stock's 50-day moving average price is $737.49 and its 200-day moving average price is $769.01. The stock has a market cap of $714.88 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.05 and a beta of 0.47. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $939.30. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion during 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%.Eli Lilly and Company's revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

About Eli Lilly and Company

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.