Eventide Asset Management LLC Has $3.94 Million Stock Position in Eli Lilly and Company $LLY

Key Points

• Eventide Asset Management LLC increased its stake in Eli Lilly and Company by 13.7%, holding 4,772 shares worth approximately $3.94 million.
• Several other large investors also modified their positions in Eli Lilly, contributing to institutional investors owning 82.53% of the stock.
• Eli Lilly reported $6.31 EPS in its most recent quarter, exceeding analysts' expectations and reflecting a 37.6% year-over-year revenue growth to $15.56 billion.

Eventide Asset Management LLC raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,772 shares of the company's stock after acquiring an additional 574 shares during the quarter. Eventide Asset Management LLC's holdings in Eli Lilly and Company were worth $3,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient IA LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at approximately $570,000. LS Investment Advisors LLC increased its position in Eli Lilly and Company by 1.7% in the 1st 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 period. Cutter Capital Management LP acquired a new position in Eli Lilly and Company in the 1st quarter valued at approximately $14,866,000. Prism Advisors Inc. acquired a new position in Eli Lilly and Company in the 1st quarter valued at approximately $207,000. Finally, Hemington Wealth Management increased its position in Eli Lilly and Company by 14.4% in the 1st quarter. Hemington Wealth Management now owns 985 shares of the company's stock valued at $813,000 after acquiring an additional 124 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LLY shares. UBS Group decreased their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Daiwa Capital Markets cut shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price objective for the company. in a research report on Sunday, August 17th. Cantor Fitzgerald decreased 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. Daiwa America cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, HSBC upgraded shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and increased their price objective for the stock from $675.00 to $700.00 in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus price target of $950.17.

Insiders Place Their Bets

In related news, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the acquisition, the director owned 2,703 shares of the company's stock, valued at $1,733,109.54. This trade represents a 4.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction on 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 completion of the acquisition, the chief executive officer directly owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 2.2%

NYSE:LLY traded down $16.56 during trading hours on Friday, reaching $726.35. The company had a trading volume of 3,953,474 shares, compared to its average volume of 5,282,453. 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 cap of $687.46 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 1.01 and a beta of 0.47. The business's 50-day simple moving average is $743.84 and its two-hundred day simple moving average is $781.22. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $942.35.

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

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 39.22%.

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.