First Merchants Corp Has $39.09 Million Stock Position in Eli Lilly and Company $LLY

First Merchants Corp increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,141 shares of the company's stock after buying an additional 325 shares during the period. Eli Lilly and Company accounts for 1.5% of First Merchants Corp's holdings, making the stock its 10th biggest holding. First Merchants Corp's holdings in Eli Lilly and Company were worth $39,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hobbs Wealth Management LLC boosted its holdings in Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after purchasing an additional 12 shares during the last quarter. Hixon Zuercher LLC boosted its holdings in Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after purchasing an additional 12 shares during the last quarter. O Brien Wealth Partners LLC boosted its holdings in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares during the last quarter. Ascent Capital Management LLC boosted its holdings in Eli Lilly and Company by 2.5% during the first quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock worth $409,000 after purchasing an additional 12 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners boosted its holdings in Eli Lilly and Company by 2.7% during the first quarter. Tennessee Valley Asset Management Partners now owns 493 shares of the company's stock worth $407,000 after purchasing an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $845.55 on Thursday. The company's 50 day moving average is $738.69 and its 200-day moving average is $766.57. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $937.00. 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 $800.28 billion, a P/E ratio of 55.26, a price-to-earnings-growth ratio of 1.18 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the firm posted $3.92 earnings per share. The company's quarterly revenue was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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. Leerink Partners reiterated a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Berenberg Bank reiterated a "hold" rating and issued a $830.00 target price (down from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, UBS Group dropped their target price on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $943.00.

Insider Buying and Selling

In other news, Director J Erik Fyrwald bought 1,565 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the acquisition, the director owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their position. The acquisition 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 firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the acquisition, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.13% of the company's stock.

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.

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