New England Research & Management Inc. Boosts Position in Eli Lilly and Company (NYSE:LLY)

New England Research & Management Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 33.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,606 shares of the company’s stock after acquiring an additional 650 shares during the period. Eli Lilly and Company accounts for approximately 1.1% of New England Research & Management Inc.’s holdings, making the stock its 27th biggest holding. New England Research & Management Inc.’s holdings in Eli Lilly and Company were worth $2,309,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $40,000. Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the period. Finally, Richardson Financial Services Inc. purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $43,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $11.24 during trading hours on Monday, hitting $898.40. The stock had a trading volume of 2,892,010 shares, compared to its average volume of 3,030,491. The firm has a market capitalization of $853.84 billion, a PE ratio of 132.31, a PEG ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53. The stock has a fifty day moving average price of $900.13 and a 200 day moving average price of $848.40.

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

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LLY. Truist Financial restated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets increased their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Berenberg Bank raised their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and 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.