Versant Capital Management Inc Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Versant Capital Management Inc lifted its stake in Eli Lilly and Company (NYSE:LLY) by 9.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 979 shares of the company’s stock after buying an additional 84 shares during the quarter. Versant Capital Management Inc’s holdings in Eli Lilly and Company were worth $867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $36,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company during the second quarter worth $45,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $40,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LLY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,025.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Jefferies Financial Group upped their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Up 1.3 %

LLY stock opened at $898.40 on Tuesday. The stock has a market cap of $853.84 billion, a P/E ratio of 132.31, a P/E/G ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock’s fifty day simple moving average is $900.13 and its two-hundred day simple moving average is $848.40.

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

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.