In a recent filing with the Securities & Exchange Commission (SEC), Simplicity Solutions LLC revealed that it has reduced its stake in Eli Lilly and Company (NYSE:LLY) by 3.3% during the second quarter of this year. The institutional investor now owns 55,469 shares of the company’s stock after selling 1,905 shares during the period.
Eli Lilly and Company accounts for 0.7% of Simplicity Solutions LLC’s investment portfolio, making it their 24th largest holding. As of its most recent filing with the SEC, Simplicity Solutions LLC’s holdings in Eli Lilly and Company were valued at $26,014,000.
This news comes amidst other developments concerning major shareholders’ movements in Eli Lilly and Company. On July 21st, Lilly Endowment Inc sold 591 shares of the company’s stock at an average price of $466.62, resulting in a total value of $275,772.42. Following this sale, the insider now holds approximately 101,028,219 shares in the company, with an estimated value of around $47,141,787,549.78.
Additionally, on August 21st, Eli Lilly and Company’s CAO Donald A. Zakrowski also sold 600 shares at an average price of $546.51 for a total transaction amounting to $327,906.00. After this transaction, Zakrowski now directly owns 5,378 shares of the company’s stock worth approximately $2,939,o30.l78.
Furthermore, it is worth noting that insiders have sold a significant number of company stocks recently. In facte they have collectively sold off 693246 shares worth a staggering $20,b948820977 within the last quarter alone.
These developments indicate some level of activity among major shareholders within Eli Lilly and Company but are not necessarily indicative of any overarching trend. Investors should carefully consider these actions and their potential impact on the company’s stock performance.
Eli Lilly and Company Gains Attention from Institutional Investors and Hedge Funds: Positive Research Reports and Strong Earnings Position the Company as an Appealing Investment Option
Eli Lilly and Company (NYSE:LLY) has gained the attention of several institutional investors and hedge funds who have recently made modifications to their holdings of the stock. Fairfield Bush & CO. purchased a new stake in Eli Lilly and Company in the first quarter, valuing it at $107,000. Meanwhile, Roundview Capital LLC increased its holdings by 2.6% during the same period, now owning 2,056 shares worth $589,000 after purchasing an additional 53 shares in the last quarter. Merit Financial Group LLC also entered into a new position with Eli Lilly and Company during the first quarter, acquiring a stake valuing $210,000. In addition, NewEdge Advisors LLC saw a 9.9% rise in its holdings of Eli Lilly and Company during this period, now owning 53,052 shares worth $15,193,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. joined these institutional investors by buying a new stake worth $561,000 in the first quarter. Currently, hedge funds and other institutional investors own approximately 81.38% of Eli Lilly and Company’s stock.
Research reports on Eli Lilly and Company have also contributed to its reputation as an attractive investment option. BMO Capital Markets revised their price objective on shares of Eli Lilly and Company from $565.00 to $633.00 while offering an “outperform” rating for the stock on August 9th. Berenberg Bank also boosted their target price from $375.00 to $500.00 in a research report released on June 20th. On June 27th, a “maintains” rating was reiterated by 22nd Century Group analysts based on their evaluation of Eli Lilly and Company’s performance thus far.
The market has taken note of these ratings as well as those provided by Credit Suisse Group, which raised their target price from $490.00 to $580.00 and gave the stock an “outperform” rating on August 9th. Truist Financial also boosted their target price from $525.00 to $600.00, providing Eli Lilly and Company’s stock with a “buy” rating in a research report on the same day. Bloomberg data suggests that, taking into account the various ratings given by investment analysts, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” along with a consensus price target of approximately $537.13.
On Friday, October 8th, shares of Eli Lilly and Company were traded at $565.22 during mid-day trading. The total number of shares exchanged reached 4,745,172 compared to an average volume of 2,942,374 shares for this company. Moreover, the company’s 50-day simple moving average is calculated at $542.00 while its 200-day simple moving average stands at $462.36.
With regards to its financial standing, Eli Lilly and Company has a market capitalization of $536.56 billion alongside a P/E ratio of 78.61 and a P/E/G ratio of 2.33. Its beta value is assessed at 0.33 while it maintains a current ratio of 1.13 and quick ratio of 0.87.
On August 8th, Eli Lilly and Company released its quarterly earnings report which exceeded expectations by posting an earnings per share (EPS) figure of $2.11 for the quarter—$0.13 higher than the consensus estimate set at $1.98 per share for that period. Furthermore, this marked an increase from the previous year’s EPS figure of $1.25 during the same quarter.
The company also disclosed revenue figures of $8.31 billion for the quarter—surpassing analysts’ expectations set at $7.58 billion. This represents a year-over-year growth rate of 28.1%. These favorable financial results come as Eli Lilly and Company continues to make significant advancements in the pharmaceutical industry.
Based on predictions made by research analysts, Eli Lilly and Company is projected to post an estimated earnings per share of 9.83 for the current fiscal year.
In conclusion, with the rise in interest from institutional investors and hedge funds, along with positive research reports and strong quarterly earnings, Eli Lilly and Company has positioned itself as an appealing option for investors looking to capitalize on its success in the pharmaceutical sector. With a consensus rating of “Moderate Buy” along with a positive price target, it will be interesting to see how the stock performs moving forward.