Pegasus Asset Management Inc. Grows Position in Eli Lilly and Company $LLY

Key Points

• Pegasus Asset Management Inc. has increased its stake in Eli Lilly and Company by 46.6% during the second quarter, holding 7,662 shares valued at approximately $5.97 million, making it the 17th largest position in its portfolio.
• Eli Lilly reported earnings of $6.31 per share for the last quarter, exceeding analyst expectations of $5.59, with revenue reaching $15.56 billion, up 37.6% from the previous year.
• The stock’s current market capitalization stands at $788.47 billion, with a 52-week high of $937.00 and a consensus price target of $948.06 following recent downgrades from investment firms.

Pegasus Asset Management Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 46.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,662 shares of the company's stock after buying an additional 2,434 shares during the period. Eli Lilly and Company comprises about 2.0% of Pegasus Asset Management Inc.'s portfolio, making the stock its 17th biggest position. Pegasus Asset Management Inc.'s holdings in Eli Lilly and Company were worth $5,973,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. WestEnd Advisors LLC increased its position in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in Eli Lilly and Company in the first quarter valued at $27,000. Citizens National Bank Trust Department increased its holdings in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company in the first quarter valued at $40,000. Finally, TD Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 129.2% in the 1st quarter. TD Capital Management LLC now owns 55 shares of the company's stock valued at $46,000 after acquiring an additional 31 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 2.6%

NYSE:LLY opened at $833.08 on Monday. The stock's 50 day moving average price is $742.42 and its 200 day moving average price is $765.55. The company has a market capitalization of $788.47 billion, a PE ratio of 54.45, a P/E/G ratio of 1.18 and a beta of 0.47. 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 announced its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates 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 for the quarter was up 37.6% compared to the same quarter last year. During the same period last 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. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Insider Activity

In other news, Director J Erik Fyrwald bought 1,565 shares of the stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the acquisition, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jamere Jackson acquired 200 shares of the stock in a transaction on 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 $6,013,143.12. This represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 4,514 shares of company stock valued at $2,894,841. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on LLY. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. UBS Group dropped their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Berenberg Bank reiterated a "hold" rating and issued a $830.00 price target (down from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eli Lilly and Company in a research note on Wednesday, October 8th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $948.06.

Eli Lilly and 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.

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

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.