ERn Financial LLC Has $539,000 Stock Position in Eli Lilly and Company $LLY

Key Points

• ERn Financial LLC reduced its stake in Eli Lilly and Company by 54.3% during Q2 2023, now holding shares worth $539,000.
• Analysts have recently adjusted their price targets for Eli Lilly, with most setting a consensus target around $939.61, and ratings ranging from "Strong Buy" to "Hold".
• Eli Lilly reported a strong quarterly earnings performance, with $6.31 EPS surpassing estimates, leading to a 37.6% year-over-year revenue increase.

ERn Financial LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 54.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 692 shares of the company's stock after selling 821 shares during the quarter. ERn Financial LLC's holdings in Eli Lilly and Company were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Duquesne Family Office LLC raised its stake in shares of Eli Lilly and Company by 52.5% in the first quarter. Duquesne Family Office LLC now owns 94,830 shares of the company's stock valued at $78,321,000 after acquiring an additional 32,640 shares during the last quarter. Corient IA LLC bought a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $570,000. LS Investment Advisors LLC raised its stake in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after acquiring an additional 40 shares during the last quarter. Cutter Capital Management LP bought a new position in Eli Lilly and Company in the 1st quarter worth approximately $14,866,000. Finally, Prism Advisors Inc. bought a new position in Eli Lilly and Company in the 1st quarter worth approximately $207,000. Institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LLY shares. Berenberg Bank restated a "hold" rating and issued a $830.00 price objective (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. Cantor Fitzgerald dropped their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Daiwa Capital Markets cut shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 target price for the company. in a research 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 research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $939.61.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $724.73 on Monday. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $937.00. The firm has a market capitalization of $685.93 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. 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 fifty day moving average of $734.15 and a 200-day moving average of $766.60.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the business earned $3.92 EPS. The firm's revenue was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David A. Ricks purchased 1,632 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the acquisition, the chief executive officer directly owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gabrielle Sulzberger purchased 117 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the acquisition, the director directly owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 4,514 shares of company stock worth $2,894,841 over the last ninety days. Insiders own 0.14% of the company's stock.

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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