Traynor Capital Management Inc. Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Traynor Capital Management Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 30.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,270 shares of the company's stock after buying an additional 5,212 shares during the period. Eli Lilly and Company accounts for approximately 1.3% of Traynor Capital Management Inc.'s holdings, making the stock its 12th biggest position. Traynor Capital Management Inc.'s holdings in Eli Lilly and Company were worth $12,982,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. Retirement Group LLC boosted its holdings in shares of Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company's stock valued at $27,000 after purchasing an additional 35 shares during the last quarter. Legacy Financial Group LLC bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $35,000. Optiver Holding B.V. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $36,000. Finally, Cornerstone Planning Group LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LLY shares. Morgan Stanley increased their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Bank of America increased their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, March 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $815.00 price target on shares of Eli Lilly and Company in a report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an "overweight" rating in a report on Friday, March 15th. Finally, Barclays increased their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $689.52.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 195,055 shares of company stock worth $125,254,657. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $0.22 on Thursday, hitting $777.96. 3,185,016 shares of the company were exchanged, compared to its average volume of 3,236,305. Eli Lilly and Company has a 1-year low of $334.58 and a 1-year high of $800.78. The stock's 50 day moving average price is $730.97 and its 200 day moving average price is $637.01. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $739.19 billion, a P/E ratio of 134.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 12.42 EPS for the current 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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