Mitchell Capital Management Co. Sells 5,376 Shares of Eli Lilly and Company $LLY

Key Points

• Mitchell Capital Management Co. has reduced its stake in Eli Lilly and Company by 43.3%, now holding 7,035 shares valued at approximately $5.43 million.
• Significant movements in hedge fund positions were noted, with PNC Financial Services Group increasing its stake by 97.5% to over 101 million shares, while Goldman Sachs and Vanguard Group also boosted their respective holdings.
• Eli Lilly reported strong quarterly earnings, beating estimates with an EPS of $6.31 and a revenue of $15.56 billion, reflecting a year-over-year increase of 37.6% in revenue.

Mitchell Capital Management Co. reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 43.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,035 shares of the company's stock after selling 5,376 shares during the quarter. Mitchell Capital Management Co.'s holdings in Eli Lilly and Company were worth $5,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 6.7% in 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 during the period. Wellington Management Group LLP boosted its position in shares of 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 worth $10,495,261,000 after purchasing an additional 81,587 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Eli Lilly and Company by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company's stock worth $4,808,443,000 after purchasing an additional 682,203 shares during the period. Finally, Nuveen LLC bought a new position in shares of Eli Lilly and Company in the first quarter worth approximately $4,613,912,000. 82.53% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other news, Director Gabrielle Sulzberger bought 117 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the purchase, the director owned 2,703 shares in the company, valued at $1,733,109.54. The trade was a 4.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Daniel Skovronsky bought 1,000 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the purchase, the executive vice president owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This trade represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 4,514 shares of company stock valued at $2,894,841 over the last quarter. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LLY. Daiwa America lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 17th. Hsbc Global Res upgraded shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Guggenheim upped their target price on shares of Eli Lilly and Company from $875.00 to $948.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price 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 research report on Tuesday, September 16th. Finally, HSBC upped their target price on shares of Eli Lilly and Company from $700.00 to $800.00 in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $948.06.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $833.08 on Monday. The company 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 firm's fifty day moving average is $742.42 and its 200 day moving average is $765.55. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $937.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $15.56 billion for 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%. Eli Lilly and Company's revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.