Maryland State Retirement & Pension System Buys 1,299 Shares of Eli Lilly and Company $LLY

Key Points

• Maryland State Retirement & Pension System increased its stake in Eli Lilly and Company by 3.5% during Q2, acquiring an additional 1,299 shares, bringing its total holdings to 38,839 shares valued at approximately $30.3 million.
• Eli Lilly reported earnings of $6.31 per share for the latest quarter, surpassing estimates and reflecting a 37.6% revenue increase year-over-year, with revenue reaching $15.56 billion.
• Analysts have a consensus rating of "Moderate Buy" for Eli Lilly's stock, with a target price of $943.00, and have adjusted ratings from several firms, including JPMorgan lowering its price target from $1,100 to $1,050.

Maryland State Retirement & Pension System grew its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,839 shares of the company's stock after acquiring an additional 1,299 shares during the period. Eli Lilly and Company comprises 0.7% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 27th biggest position. Maryland State Retirement & Pension System's holdings in Eli Lilly and Company were worth $30,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. PNC Financial Services Group Inc. lifted its stake in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after buying an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after buying an additional 4,975,395 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Eli Lilly and Company by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after buying an additional 81,587 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Eli Lilly and Company by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company's stock valued at $4,808,443,000 after buying an additional 682,203 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Eli Lilly and Company during the 1st quarter valued at approximately $4,613,912,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $845.55 on Thursday. The firm's fifty day moving average price is $738.69 and its 200-day moving average price is $766.57. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The stock 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 has a fifty-two week low of $623.78 and a fifty-two week high of $937.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for 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 quarter last year, the company posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the acquisition, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. The trade was a 0.73% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 4,514 shares of company stock worth $2,894,841. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. dropped 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 research note on Tuesday, September 16th. Weiss Ratings restated a "hold (c+)" rating on shares of Eli Lilly and Company in a research note on Wednesday. Hsbc Global Res upgraded shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Morgan Stanley lowered their target price on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an "overweight" rating on the stock in a research note on Friday, October 3rd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $943.00.

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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