Wright Investors Service Inc. Buys Shares of 2,882 Eli Lilly and Company (NYSE:LLY)

Wright Investors Service Inc. purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,882 shares of the company’s stock, valued at approximately $1,680,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Waterfront Wealth Inc. grew its position in shares of Eli Lilly and Company by 2.1% in the fourth quarter. Waterfront Wealth Inc. now owns 1,157 shares of the company’s stock valued at $674,000 after purchasing an additional 24 shares during the last quarter. Tranquility Partners LLC grew its position in shares of Eli Lilly and Company by 5.2% in the fourth quarter. Tranquility Partners LLC now owns 856 shares of the company’s stock valued at $499,000 after purchasing an additional 42 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Eli Lilly and Company by 3.6% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,302 shares of the company’s stock valued at $8,920,000 after purchasing an additional 537 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Eli Lilly and Company by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 93,420 shares of the company’s stock valued at $54,456,000 after purchasing an additional 4,865 shares during the last quarter. Finally, Oakworth Capital Inc. grew its position in shares of Eli Lilly and Company by 5.2% in the fourth quarter. Oakworth Capital Inc. now owns 3,633 shares of the company’s stock valued at $2,118,000 after purchasing an additional 181 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $1.63 during trading on Thursday, reaching $749.14. The stock had a trading volume of 518,872 shares, compared to its average volume of 3,051,000. Eli Lilly and Company has a 52 week low of $367.35 and a 52 week high of $800.78. The business’s 50-day moving average price is $764.03 and its 200 day moving average price is $657.67. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The stock has a market capitalization of $711.80 billion, a PE ratio of 129.32, a P/E/G ratio of 1.63 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. Eli Lilly and Company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts predict that Eli Lilly and Company will post 12.52 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a research report on Monday. Citigroup lifted their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. BMO Capital Markets lifted their target price on Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Morgan Stanley lifted their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group lifted their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $728.05.

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.