Meritage Portfolio Management Cuts Position in Eli Lilly and Company $LLY

Key Points

• Meritage Portfolio Management reduced its position in Eli Lilly and Company by 53.5% in the second quarter, now holding 1,432 shares valued at approximately $1.116 million.
• Several institutional investors have increased their stakes, with PNC Financial Services boosting its holdings by 97.5% and Vanguard Group adding 6.7% during the first quarter.
• Eli Lilly reported quarterly earnings of $6.31 EPS, surpassing estimates and achieving a revenue of $15.56 billion, up 37.6% compared to the previous year.

Meritage Portfolio Management lessened its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 53.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,432 shares of the company's stock after selling 1,646 shares during the period. Meritage Portfolio Management's holdings in Eli Lilly and Company were worth $1,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in Eli Lilly and Company by 97.5% in 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 purchasing an additional 50,002,551 shares during the period. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after buying an additional 4,975,395 shares during the last quarter. Wellington Management Group LLP increased its holdings in Eli Lilly and Company by 0.6% during the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock worth $10,495,261,000 after buying an additional 81,587 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Eli Lilly and Company by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company's stock worth $4,808,443,000 after buying an additional 682,203 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Eli Lilly and Company during the first quarter worth about $4,613,912,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $833.08 on Monday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $937.00. The firm has a market cap of $788.47 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 1.18 and a beta of 0.47. The business's fifty day moving average is $742.42 and its 200 day moving average is $765.55.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The company had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period in the previous year, the company posted $3.92 EPS. The firm's revenue for the quarter 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. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Insider Transactions at Eli Lilly and Company

In other news, Director J Erik Fyrwald purchased 1,565 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares in the company, valued at $47,903,686.74. This represents a 2.14% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David A. Ricks purchased 1,632 shares of the stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the acquisition, the chief executive officer owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This represents a 0.30% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 4,514 shares of company stock valued at $2,894,841. Company insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Guggenheim lifted their price target on shares of Eli Lilly and Company from $875.00 to $948.00 and gave the stock a "buy" rating in a report on Wednesday. Berenberg Bank reaffirmed a "hold" rating and set a $830.00 price target (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. Cantor Fitzgerald set a $925.00 price target on Eli Lilly and Company and gave the company an "overweight" rating in a research report on Thursday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Eli Lilly and Company in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on Eli Lilly and Company from $876.00 to $879.00 and gave the company a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $948.06.

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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