Clear Rock Advisors LLC Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Clear Rock Advisors LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 253 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the period. GQG Partners LLC grew its position in 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 worth $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $884.55 on Wednesday. The firm has a market capitalization of $840.68 billion, a P/E ratio of 130.27, a PEG ratio of 2.78 and a beta of 0.42. The stock has a fifty day moving average of $896.62 and a 200-day moving average of $845.90. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Equities analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LLY shares. BMO Capital Markets boosted their price objective 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. Berenberg Bank increased their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Bank of America raised their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Finally, Wells Fargo & Company increased 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. Three research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 52,369 shares of Eli Lilly and Company stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $915.18, for a total transaction of $47,927,061.42. Following the completion of the sale, the insider now directly owns 97,247,403 shares in the company, valued at approximately $88,998,878,277.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 355,962 shares of company stock valued at $331,267,535 in the last three months. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.