Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Eli Lilly and Company $LLY

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in Eli Lilly and Company by 70.6%, now holding approximately 0.6% of its portfolio.
• Several institutional investors, including PNC Financial Services and Vanguard Group, increased their shares in Eli Lilly during the first quarter of the year.
• Despite recent downgrades from various analysts, Eli Lilly's stock maintains a consensus rating of "Moderate Buy" with an average price target of $939.61.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 70.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,609 shares of the company's stock after selling 563,318 shares during the period. Eli Lilly and Company makes up approximately 0.6% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 21st biggest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in Eli Lilly and Company were worth $182,885,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of 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 worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. Vanguard Group Inc. raised 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 purchasing an additional 4,975,395 shares in the last quarter. Wellington Management Group LLP lifted its position in Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Eli Lilly and Company by 13.3% in 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 purchasing an additional 682,203 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $4,613,912,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Hsbc Global Res raised Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a report on Wednesday, August 27th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Leerink Partnrs cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an "overweight" rating for the company in a report on Tuesday, September 16th. Finally, Guggenheim decreased their price objective on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $939.61.

Insider Activity at Eli Lilly and Company

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

Eli Lilly and Company Stock Performance

NYSE LLY opened at $820.69 on Friday. The business's 50-day moving average price is $734.03 and its 200 day moving average price is $766.34. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $937.00. The company has a market capitalization of $776.75 billion, a PE ratio of 53.64, a price-to-earnings-growth ratio of 1.15 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. During the same period last year, the company earned $3.92 earnings per share. The company's quarterly revenue was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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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