Eli Lilly and Company (NYSE:LLY) Shares Acquired by GAM Holding AG

GAM Holding AG raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 55.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,978 shares of the company’s stock after acquiring an additional 10,677 shares during the period. Eli Lilly and Company comprises about 2.1% of GAM Holding AG’s investment portfolio, making the stock its 9th biggest position. GAM Holding AG’s holdings in Eli Lilly and Company were worth $26,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Lynx Investment Advisory acquired 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 shares of Eli Lilly and Company in the 2nd quarter valued at $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $40,000. Morton Brown Family Wealth LLC boosted its holdings in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC increased its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $902.96 on Thursday. The business’s 50 day moving average price is $921.12 and its 200 day moving average price is $860.74. The company has a market cap of $858.18 billion, a price-to-earnings ratio of 132.98, a PEG ratio of 2.79 and a beta of 0.42. 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 has a one year low of $547.61 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.83 billion. On average, research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LLY. Truist Financial raised their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Citigroup assumed coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,025.00 price objective on shares of Eli Lilly and Company in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

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.