Sitrin Capital Management LLC Sells 566 Shares of Eli Lilly and Company $LLY

Key Points

• Sitrin Capital Management LLC sold 566 shares of Eli Lilly and Company, reducing its holdings by 8.5%, bringing its total ownership to 6,078 shares valued at approximately $4.74 million.
• Major adjustments from other institutional investors include Brighton Jones LLC increasing its stake by 22%, now owning 9,597 shares valued at $7.41 million.
• Analysts have recently lowered target prices for Eli Lilly, with UBS Group reducing theirs from $1,050 to $895, though the average rating remains a "Moderate Buy" with a target of $943.

Sitrin Capital Management LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,078 shares of the company's stock after selling 566 shares during the quarter. Eli Lilly and Company comprises approximately 2.4% of Sitrin Capital Management LLC's holdings, making the stock its 25th largest holding. Sitrin Capital Management LLC's holdings in Eli Lilly and Company were worth $4,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after purchasing an additional 40 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Eli Lilly and Company by 13.9% during the first quarter. Wedge Capital Management L L P NC now owns 738 shares of the company's stock worth $610,000 after purchasing an additional 90 shares during the last quarter. Covestor Ltd lifted its position in shares of Eli Lilly and Company by 24.9% during the first quarter. Covestor Ltd now owns 426 shares of the company's stock worth $352,000 after purchasing an additional 85 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Eli Lilly and Company by 25.8% during the first quarter. GAMMA Investing LLC now owns 18,000 shares of the company's stock worth $14,866,000 after purchasing an additional 3,696 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on LLY. UBS Group decreased their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Cantor Fitzgerald decreased their target price on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Daiwa America lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 17th. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, HSBC raised their price target on Eli Lilly and Company from $700.00 to $800.00 in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $943.00.

Insider Transactions at Eli Lilly and Company

In other news, EVP Daniel Skovronsky bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jamere Jackson bought 200 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director owned 9,402 shares of the company's stock, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. 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. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $845.55 on Thursday. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $937.00. The firm has a market capitalization of $800.28 billion, a price-to-earnings ratio of 55.26, a PEG ratio of 1.18 and a beta of 0.47. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The stock's 50-day simple moving average is $738.69 and its 200-day simple moving average is $766.57.

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, beating analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company's revenue for the quarter 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. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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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