Lombard Odier Asset Management Europe Ltd Takes Position in Eli Lilly and Company (NYSE:LLY)

Lombard Odier Asset Management Europe Ltd bought a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 2nd quarter, Holdings Channel.com reports. The firm bought 15,467 shares of the company’s stock, valued at approximately $14,004,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Evergreen Capital Management LLC grew its holdings in Eli Lilly and Company by 2.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 10,193 shares of the company’s stock valued at $9,229,000 after buying an additional 263 shares in the last quarter. Beck Capital Management LLC grew its stake in Eli Lilly and Company by 1.1% during the second quarter. Beck Capital Management LLC now owns 8,920 shares of the company’s stock valued at $8,076,000 after acquiring an additional 96 shares in the last quarter. J. Stern & Co. LLP purchased a new position in Eli Lilly and Company during the second quarter valued at $1,729,000. Nippon Life Global Investors Americas Inc. lifted its stake in Eli Lilly and Company by 0.7% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 93,910 shares of the company’s stock worth $85,024,000 after purchasing an additional 630 shares in the last quarter. Finally, Harmony Asset Management LLC lifted its stake in Eli Lilly and Company by 3.8% in the 2nd quarter. Harmony Asset Management LLC now owns 5,595 shares of the company’s stock worth $5,066,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Bank of America boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Wells Fargo & Company upped their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group upped their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Up 0.7 %

Shares of NYSE LLY opened at $921.49 on Monday. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The firm has a market capitalization of $875.79 billion, a price-to-earnings ratio of 135.71, a PEG ratio of 2.79 and a beta of 0.42. The stock has a 50 day moving average price of $895.06 and a 200 day moving average price of $838.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations 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 expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the transaction, the insider now directly owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 425,000 shares of company stock worth $394,455,351 in the last three months. Corporate insiders own 0.13% of the company’s stock.

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.