Merit Financial Group LLC Grows Stock Position in Eli Lilly and Company $LLY

Key Points

• Merit Financial Group LLC increased its stake in Eli Lilly and Company by 28.2%, holding 32,430 shares valued at approximately $25.281 million.
• Eli Lilly reported net revenue of $15.56 billion in its latest quarter, surpassing analysts' expectations and marking a 37.6% increase year-over-year.
• Institutional investors hold a significant majority of Eli Lilly's stock, comprising 82.53% of the company's shares.

Merit Financial Group LLC raised its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 28.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,430 shares of the company's stock after purchasing an additional 7,127 shares during the quarter. Merit Financial Group LLC's holdings in Eli Lilly and Company were worth $25,281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Brighton Jones LLC raised its position in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after purchasing an additional 1,730 shares during the period. Revolve Wealth Partners LLC raised its position in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after purchasing an additional 40 shares during the period. Vest Financial LLC raised its position in Eli Lilly and Company by 73.4% in the first quarter. Vest Financial LLC now owns 6,570 shares of the company's stock valued at $5,426,000 after purchasing an additional 2,782 shares during the period. Ehrlich Financial Group purchased a new stake in Eli Lilly and Company in the first quarter valued at approximately $202,000. Finally, Pines Wealth Management LLC raised its position in Eli Lilly and Company by 14.9% in the first quarter. Pines Wealth Management LLC now owns 4,079 shares of the company's stock valued at $3,369,000 after purchasing an additional 530 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $840.46 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a fifty day moving average price of $734.60 and a 200 day moving average price of $765.98. The company has a market cap of $795.47 billion, a P/E ratio of 54.93, a PEG ratio of 1.17 and a beta of 0.47. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $937.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its 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 firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company's revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.92 earnings per share. 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 fiscal year.

Insider Activity

In other news, Director Gabrielle Sulzberger bought 117 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the purchase, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Erik Fyrwald bought 1,565 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the purchase, the director owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. This represents a 2.14% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,514 shares of company stock valued at $2,894,841. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on 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. Daiwa America lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 17th. Berenberg Bank reaffirmed a "hold" rating and set a $830.00 price objective (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. Morgan Stanley cut their price objective on 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. Finally, HSBC upped their price objective on Eli Lilly and Company from $700.00 to $800.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $938.94.

Eli Lilly and Company 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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