Eli Lilly and Company $LLY Stock Bought by Formidable Asset Management LLC

Key Points

• Formidable Asset Management increased its Eli Lilly stake by 12.6% in the third quarter, to 13,067 shares valued at about $15.7 million. Lilly represents 2.2% of the firm’s portfolio; institutional investors and hedge funds own 82.53% of the stock.
• Lilly reported quarterly earnings of $7.48 per share, topping the $5.71 consensus estimate, while revenue of $24.4 billion exceeded expectations and grew 38.6% year over year.
• Analysts maintain a generally positive outlook: the stock has a “Moderate Buy” consensus and an average target price of $1,404.14, with 24 Buy ratings among 29 analysts.

Formidable Asset Management LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,067 shares of the company's stock after buying an additional 1,460 shares during the period. Eli Lilly and Company makes up about 2.2% of Formidable Asset Management LLC's investment portfolio, making the stock its 8th largest holding. Formidable Asset Management LLC's holdings in Eli Lilly and Company were worth $15,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. Torren Management LLC raised its stake in Eli Lilly and Company by 357.1% during the 3rd quarter. Torren Management LLC now owns 32 shares of the company's stock valued at $37,000 after acquiring an additional 25 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. boosted its position in Eli Lilly and Company by 60.0% during the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company's stock worth $37,000 after acquiring an additional 15 shares during the period. Foresight Capital Management Advisors Inc. bought a new position in shares of Eli Lilly and Company in the third quarter worth $49,000. AlphaCentric Advisors LLC bought a new position in shares of Eli Lilly and Company in the first quarter worth $42,000. Finally, Caitlin John LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth $64,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on LLY. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Berenberg Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating and set a $1,400.00 target price for the company in a research report on Tuesday, September 15th. Bank of America reiterated a "buy" rating and issued a $1,497.00 target price on shares of Eli Lilly and Company in a research report on Friday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $1,413.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus target price of $1,404.14.

Insider Buying and Selling at Eli Lilly and Company

In other news, EVP Anat Hakim sold 5,000 shares of the firm'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 completion of the transaction, the executive vice president owned 4,137 shares in the company, valued at approximately $5,802,225.24. This trade represents a 54.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the completion of the transaction, the executive vice president directly owned 54,147 shares in the company, valued at $63,628,139.70. This represents a 10.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 13,500 shares of company stock valued at $17,020,770. 0.14% of the stock is owned by insiders.

Eli Lilly and Company News Summary

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

Eli Lilly and Company Stock Up 0.5%

LLY opened at $1,372.15 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39. The company 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 stock's fifty day moving average is $1,215.24 and its 200-day moving average is $1,101.16. Eli Lilly and Company has a one year low of $850.51 and a one year high of $1,453.00.

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

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders 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 yield of 0.5%. The ex-dividend date of this dividend is Friday, November 13th. Eli Lilly and Company's dividend payout ratio is presently 22.46%.

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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