Morton Capital Management LLC CA Buys 302 Shares of Eli Lilly and Company (NYSE:LLY)

Morton Capital Management LLC CA raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 72.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 720 shares of the company’s stock after acquiring an additional 302 shares during the quarter. Morton Capital Management LLC CA’s holdings in Eli Lilly and Company were worth $638,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on LLY shares. Guggenheim increased their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Bank of America lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets boosted their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $979.29.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $913.74 on Thursday. 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 company has a market capitalization of $868.42 billion, a P/E ratio of 136.08, a P/E/G ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53. The stock has a 50 day moving average of $906.72 and a 200-day moving average of $850.80.

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, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, equities research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

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.