New Century Financial Group LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

New Century Financial Group LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,185 shares of the company’s stock after buying an additional 199 shares during the quarter. Eli Lilly and Company comprises approximately 0.8% of New Century Financial Group LLC’s portfolio, making the stock its 20th biggest position. New Century Financial Group LLC’s holdings in Eli Lilly and Company were worth $1,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Planning LLC bought a new position in shares of Eli Lilly and Company during the first quarter valued at $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in Eli Lilly and Company in the 1st quarter worth about $6,916,000. M&G Plc bought a new stake in Eli Lilly and Company in the 1st quarter worth about $8,896,000. HighPoint Advisor Group LLC bought a new stake in Eli Lilly and Company in the 4th quarter worth about $9,878,000. Finally, Leo Wealth LLC bought a new stake in Eli Lilly and Company in the 4th quarter worth about $3,355,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the sale, the insider now directly owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 364,810 shares of company stock worth $339,366,198. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on LLY. Truist Financial reissued a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Citigroup began coverage on Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $885.56 on Tuesday. The company has a market cap of $841.64 billion, a P/E ratio of 130.42, a P/E/G ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The business’s 50 day moving average price is $896.50 and its 200-day moving average price is $844.99. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company 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.