Miura Global Management LLC Sells 3,500 Shares of Eli Lilly and Company (NYSE:LLY)

Miura Global Management LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,000 shares of the company’s stock after selling 3,500 shares during the quarter. Eli Lilly and Company comprises about 2.0% of Miura Global Management LLC’s portfolio, making the stock its 14th largest position. Miura Global Management LLC’s holdings in Eli Lilly and Company were worth $1,772,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after purchasing an additional 169,391 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Eli Lilly and Company by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after acquiring an additional 171,595 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Eli Lilly and Company by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after purchasing an additional 22,392 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Eli Lilly and Company by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 2,069,881 shares of the company’s stock worth $1,874,029,000 after acquiring an additional 100,426 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Morgan Stanley reiterated 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. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $813.33 on Wednesday. The stock has a fifty day moving average price of $847.28 and a 200-day moving average price of $871.36. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The company has a market cap of $772.11 billion, a price-to-earnings ratio of 87.93, a PEG ratio of 3.03 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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.