Mengis Capital Management Inc. Boosts Stock Holdings in Eli Lilly and Company $LLY

Key Points

• Mengis Capital Management Inc. increased its stake in Eli Lilly and Company by 21.3%, owning a total of 8,894 shares valued at approximately $6.93 million.
• Other institutional investors have also increased their positions in Eli Lilly, with hedge funds owning 82.53% of the company's stock, signifying strong institutional interest.
• Eli Lilly reported $6.31 earnings per share (EPS) for the last quarter, surpassing expectations and reflecting a 37.6% increase in revenue year-over-year.

Mengis Capital Management Inc. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 21.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,894 shares of the company's stock after purchasing an additional 1,560 shares during the period. Eli Lilly and Company accounts for about 1.5% of Mengis Capital Management Inc.'s portfolio, making the stock its 17th largest position. Mengis Capital Management Inc.'s holdings in Eli Lilly and Company were worth $6,933,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Precedent Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 15.3% in the 2nd quarter. Precedent Wealth Partners LLC now owns 294 shares of the company's stock worth $229,000 after buying an additional 39 shares during the last quarter. Capital Advisors Inc. OK grew its position in shares of Eli Lilly and Company by 6.8% in the 2nd quarter. Capital Advisors Inc. OK now owns 6,747 shares of the company's stock worth $5,260,000 after buying an additional 429 shares during the last quarter. Family CFO Inc purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $54,000. Duquesne Family Office LLC grew its position in shares of Eli Lilly and Company by 52.5% in the 1st quarter. Duquesne Family Office LLC now owns 94,830 shares of the company's stock worth $78,321,000 after buying an additional 32,640 shares during the last quarter. Finally, Corient IA LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $570,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the transaction, the director owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. The trade was a 2.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Erik Fyrwald acquired 1,565 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the transaction, the director directly owned 74,578 shares of the company's stock, valued at $47,903,686.74. This trade represents a 2.14% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 4,514 shares of company stock valued at $2,894,841 in the last three months. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective 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 report on Tuesday, September 16th. DZ Bank raised shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 20th. Finally, Morgan Stanley dropped 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 report on Friday, October 3rd. One equities research 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 stock. According to MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average target price of $948.56.

Eli Lilly and Company Stock Performance

LLY opened at $833.08 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The firm has a fifty day moving average price of $742.42 and a 200 day moving average price of $766.36. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $937.00. The stock has a market cap of $788.47 billion, a P/E ratio of 54.45, a P/E/G ratio of 1.19 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its 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 firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the previous year, the business posted $3.92 EPS. The business's 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. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

About Eli Lilly and Company

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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