Reliant Investment Management LLC Purchases 59 Shares of Eli Lilly and Company (NYSE:LLY)

Reliant Investment Management LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,387 shares of the company’s stock after acquiring an additional 59 shares during the quarter. Reliant Investment Management LLC’s holdings in Eli Lilly and Company were worth $1,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Swedbank AB purchased a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $932,797,000. Vanguard Group Inc. grew its position in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after acquiring an additional 936,033 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Comerica Bank boosted its position in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after buying an additional 631,312 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LLY. Berenberg Bank boosted their price objective on shares of 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. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Truist Financial restated a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Bank of America increased their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Up 1.7 %

Eli Lilly and Company stock opened at $913.72 on Wednesday. The stock has a fifty day moving average of $901.94 and a 200 day moving average of $849.30. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53. 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 stock has a market cap of $868.40 billion, a PE ratio of 134.57, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating 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 business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, sell-side analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

About Eli Lilly and Company

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.