Harvey Capital Management Inc. Makes New $7.54 Million Investment in Eli Lilly and Company $LLY

Harvey Capital Management Inc. acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,287 shares of the company's stock, valued at approximately $7,541,000. Eli Lilly and Company makes up 1.6% of Harvey Capital Management Inc.'s portfolio, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $12,976,634,000. Bank of America Corp DE acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $13,522,666,000. J. Stern & Co. LLP boosted its holdings in Eli Lilly and Company by 46,191.3% in the 4th quarter. J. Stern & Co. LLP now owns 4,047,245 shares of the company's stock worth $4,047,245,000 after acquiring an additional 4,038,502 shares during the period. Jupiter Topco LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $4,667,180,000. Finally, Cardano Risk Management B.V. grew its position in Eli Lilly and Company by 876.1% in the fourth quarter. Cardano Risk Management B.V. now owns 2,375,050 shares of the company's stock valued at $2,552,419,000 after acquiring an additional 2,131,734 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Key Eli Lilly and Company News

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: FDA expands Mounjaro’s opportunity: The FDA approved Mounjaro (tirzepatide) to reduce cardiovascular risk in high-risk adults with type 2 diabetes, potentially broadening the drug’s eligible market and strengthening its value proposition in discussions with insurers. Mounjaro FDA approval
• Positive Sentiment: Durable Zepbound clinical data: One-year Phase 3b results showed that combining Zepbound with Taltz produced sustained or improved outcomes for adults with obesity and psoriasis or psoriatic arthritis. The results support additional immunometabolic applications for Zepbound and reinforce Lilly’s leadership in GLP-1 medicines. Zepbound and Taltz Phase 3b data
• Positive Sentiment: Pipeline diversification through Merida: Lilly agreed to acquire Merida Biosciences for up to $2.875 billion in cash. Merida’s antibody-engineering platform and lead Phase 1 candidate, MER511, target Graves’ disease and thyroid eye disease, with additional potential in food allergy and other immune-related conditions. The deal could help Lilly use GLP-1-generated cash flow to build growth beyond obesity and diabetes. Merida Biosciences acquisition
• Neutral Sentiment: Acquisition risk remains limited but tangible: Merida’s lead asset is still in Phase 1, so the deal’s value depends on future clinical success and milestone payments. Lilly plans to close the transaction in the fourth quarter of 2026. Merida deal Phase 1 risks
• Neutral Sentiment: Lilly will participate in the Morgan Stanley Global Healthcare Conference on September 14, which could provide updates on its pipeline, GLP-1 demand and acquisition strategy. Morgan Stanley healthcare conference
• Negative Sentiment: 2027 payer concerns remain an overhang: Reports indicate some employers and insurers may reduce GLP-1 coverage, potentially affecting future Zepbound pricing and demand. The new Mounjaro cardiovascular indication may help Lilly defend coverage for certain diabetes patients, but it does not eliminate broader reimbursement risk. GLP-1 insurance coverage concerns

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LLY shares. Morgan Stanley reaffirmed an "overweight" rating and set a $1,419.00 price target on shares of Eli Lilly and Company in a research note on Thursday, August 6th. Guggenheim lifted their target price on Eli Lilly and Company from $1,235.00 to $1,273.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Cantor Fitzgerald boosted their price target on Eli Lilly and Company from $1,350.00 to $1,410.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $1,300.00 to $1,400.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Finally, Sanford C. Bernstein raised their price objective on Eli Lilly and Company from $1,300.00 to $1,385.00 and gave the company an "outperform" rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,292.18.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the completion of the transaction, the chief accounting officer directly owned 1,526 shares of the company's stock, valued at approximately $1,808,325.26. This represents a 56.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the completion of the sale, the executive vice president owned 54,147 shares in the company, valued at $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,500 shares of company stock valued at $15,958,170 in the last quarter. Insiders own 0.14% of the company's stock.

Eli Lilly and Company Stock Up 0.2%

Shares of Eli Lilly and Company stock opened at $1,159.53 on Wednesday. The business has a 50-day moving average price of $1,191.34 and a 200 day moving average price of $1,067.41. Eli Lilly and Company has a fifty-two week low of $712.05 and a fifty-two week high of $1,292.65. The firm has a market cap of $1.09 trillion, a P/E ratio of 38.91, a P/E/G ratio of 1.36 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $8.38 EPS for the quarter, topping the consensus estimate of $6.40 by $1.98. Eli Lilly and Company had a return on equity of 97.83% and a net margin of 33.53%.The company had revenue of $22.97 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the firm earned $6.31 EPS. The business's revenue was up 47.7% on a year-over-year basis. Eli Lilly and Company has set its FY 2026 guidance at 35.500-36.500 EPS. On average, sell-side analysts forecast that Eli Lilly and Company will post 36.35 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Eli Lilly and Company's dividend payout ratio is currently 23.22%.

Eli Lilly and Company Profile

Eli Lilly and Company NYSE: LLY is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.

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