As of the 2nd quarter of this year, Darwin Wealth Management LLC, a prominent investment firm, has purchased 611 shares of Eli Lilly and Company (NYSE:LLY), according to their recent filing with the Securities and Exchange Commission. This new position in the pharmaceutical giant is valued at approximately $268,000.
Eli Lilly and Company recently announced its quarterly earnings results on August 8th. The company reported an earnings per share (EPS) of $2.11 for the quarter, surpassing the consensus estimate of $1.98 by $0.13. Furthermore, Eli Lilly and Company generated a revenue of $8.31 billion during this quarter, exceeding analyst estimates of $7.58 billion.
One notable aspect of Eli Lilly and Company’s performance is its return on equity (ROE) of 65.00% and net margin of 22%. These figures demonstrate the company’s ability to generate profit from shareholders’ investments while maintaining an impressive level of profitability.
It is worth noting that the company’s quarterly revenue has increased by 28.1% on a year-over-year basis, reflecting its consistent growth trajectory. In comparison to the same quarter in the previous year when Eli Lilly and Company earned $1.25 per share, their current earnings showcase significant improvement.
Analysts predict that Eli Lilly and Company will post an EPS of 9.84 for the current fiscal year based on their strong financial performance thus far. This projection further solidifies investor confidence in the company’s potential for continued success.
For further insights into Eli Lilly and Company’s activities and accomplishments, interested individuals can refer to our latest research report on the company.
As we approach September 19th, 2023the reference date for this articleit remains essential for investors to stay updated on Eli Lilly and Company’s performance as market dynamics continue to evolve within the pharmaceutical industry sector.
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Hedge Funds Show Interest in Eli Lilly and Company: Analysts Assess Future Prospects
In recent months, there has been a significant level of activity among hedge funds in relation to their stakes in Eli Lilly and Company, a leading pharmaceutical company. Banco Bilbao Vizcaya Argentaria S.A., for instance, increased its stake in the company by 4.8% during the first quarter. This resulted in the acquisition of an additional 3,768 shares, bringing Banco Bilbao Vizcaya Argentaria S.A.’s total ownership to 82,966 shares worth $28,449,000.
Another notable hedge fund that has made moves regarding Eli Lilly and Company is Thrive Wealth Management LLC. In the second quarter, it saw a staggering increase of 103.7% in its stake by acquiring an additional 775 shares. Thrive Wealth Management LLC now holds 1,522 shares of the pharmaceutical giant’s stock valued at $714,000.
Similarly, L2 Asset Management LLC also saw an increase in its holding of Eli Lilly and Company during the first quarter by adding an additional 86 shares to reach a total ownership of 2,014 shares. The total value of L2 Asset Management LLC’s stake stands at $692,000.
Patten & Patten Inc. TN witnessed a considerable growth in its holdings as well. With a spike of 44.2% during the first quarter, it acquired an extra 5,266 shares to bring its total holdings to 17,177 shares worth $5,899,000.
Missouri Trust & Investment Co also demonstrated confidence in Eli Lilly and Company as it increased its holdings by an impressive 3.2%. This translated to acquiring an additional 24 shares with a current value of $266,000.
It is noteworthy that institutional investors now own approximately 81.38% of Eli Lilly and Company stock indicating widespread interest from major players within the finance industry.
The trading day on September 19, 2023, saw Eli Lilly and Company open at $571.17. Over the past fifty days leading up to this date, the stock’s moving average price reached $512.56, while over the two-hundred-day period, the moving average stood at $439.28.
In terms of its market capitalization, Eli Lilly and Company currently holds a formidable position with a value of $542.21 billion. The company boasts a P/E ratio of 79.44 and a price-to-earnings-growth ratio of 2.37 demonstrating notable financial strength and potential for future growth.
The company’s beta is recorded as 0.32, indicating that it is less volatile compared to the overall market’s fluctuations. Moreover, Eli Lilly and Company holds a current ratio of 1.13 and a quick ratio of 0.87, reflecting its adequate ability to meet its short-term financial obligations.
In an effort to reward its shareholders further, Eli Lilly and Company recently declared a quarterly dividend for which shareholders were issued $1.13 per share on Friday, September 8th. This represents an annualized dividend payout of $4.52, equating to a yield of 0.79%. The payout ratio stands at 62.87%.
Various research reports have focused on Eli Lilly and Company in recent times impacting investors’ perception of the stock’s performance outlook as well accordingly influencing trading patterns.
For instance, Morgan Stanley assigned an “overweight” rating to Eli Lilly and Company in their research report on September 5th following an increase in their price objectives from $617.00 to $640.00.
Another research firm that provided coverage on Eli Lilly and Company was StockNews.com who issued a “buy” rating for the company on August 17th.
On August 9th, The Goldman Sachs Group raised their target price from $385.00 to $470.00, assigning a “neutral” rating to the stock.
Meanwhile, Truist Financial increased their price target from $525.00 to $600.00 and designated Eli Lilly and Company as a “buy” in their research report published on August 9th.
Lastly, Berenberg Bank raised its price target on Eli Lilly and Company substantially from $375.00 to $500.00 according to a report released on June 20th.
In conclusion, hedge funds’ engagement with Eli Lilly and Company has been dynamic in recent times, resulting in both additions and reductions of stakes invested in the pharmaceutical giant. These developments have captured the attention of various research analysts who have provided insights into the company’s future prospects through their ratings and price targets.
