Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 887 Shares of Eli Lilly and Company $LLY

Key Points

• Empirical Financial Services LLC increased its stake in Eli Lilly and Company by 6.9%, now holding a total of 13,747 shares worth approximately $10.7 million.
• Insider transactions included Director J Erik Fyrwald purchasing 1,565 shares for over $1 million, increasing his position by 2.14%.
• Eli Lilly reported a 37.6% year-over-year increase in revenue for the last quarter, posting a profit of $6.31 EPS, which exceeded analyst expectations.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of 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 Securities & Exchange Commission. The institutional investor owned 13,747 shares of the company's stock after acquiring an additional 887 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Eli Lilly and Company were worth $10,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Duquesne Family Office LLC increased its stake in Eli Lilly and Company by 52.5% during the 1st quarter. Duquesne Family Office LLC now owns 94,830 shares of the company's stock valued at $78,321,000 after purchasing an additional 32,640 shares in the last quarter. Corient IA LLC bought a new position in shares of Eli Lilly and Company during the first quarter valued at about $570,000. LS Investment Advisors LLC boosted its holdings in Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after purchasing an additional 40 shares during the last quarter. Cutter Capital Management LP purchased a new position in Eli Lilly and Company during the first quarter worth about $14,866,000. Finally, Emerald Advisors LLC boosted its holdings in Eli Lilly and Company by 60.8% during the second quarter. Emerald Advisors LLC now owns 1,021 shares of the company's stock worth $796,000 after purchasing an additional 386 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director J Erik Fyrwald bought 1,565 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the transaction, the director directly owned 74,578 shares in the company, valued at $47,903,686.74. This trade represents a 2.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Skovronsky bought 1,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares of the company's stock, valued at $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 purchased 4,514 shares of company stock valued at $2,894,841 in the last three months. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LLY. JPMorgan Chase & Co. cut their price target 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 report on Tuesday, September 16th. Berenberg Bank restated a "hold" rating and set a $830.00 price target (down from $970.00) on shares of Eli Lilly and Company in a report on Wednesday, September 17th. Cantor Fitzgerald cut their price target on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Daiwa America cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 17th. Finally, DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. One investment 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 MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus price target of $939.61.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $820.69 on Friday. 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 firm has a market capitalization of $776.75 billion, a PE ratio of 53.64, a P/E/G ratio of 1.15 and a beta of 0.47. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $937.00. The company has a 50-day moving average price of $734.03 and a two-hundred day moving average price of $766.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping 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%. The company's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the business earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities analysts forecast that Eli Lilly and Company will post 23.48 EPS 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.

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