Eli Lilly and Company $LLY Shares Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. raised its holdings in Eli Lilly and Company (NYSE:LLY) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,790 shares of the company’s stock after purchasing an additional 479 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Eli Lilly and Company were worth $15,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Torren Management LLC boosted its stake in shares of Eli Lilly and Company by 357.1% in the third quarter. Torren Management LLC now owns 32 shares of the company’s stock worth $37,000 after buying an additional 25 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 60.0% during the first quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company’s stock worth $37,000 after acquiring an additional 15 shares during the period. Foresight Capital Management Advisors Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth about $49,000. AlphaCentric Advisors LLC purchased a new position in Eli Lilly and Company during the first quarter valued at approximately $42,000. Finally, Caitlin John LLC purchased a new position in Eli Lilly and Company during the second quarter valued at approximately $64,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LLY. Argus boosted their price target on Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the company a “buy” rating in a report on Friday, October 30th. Leerink Partners raised their price objective on shares of Eli Lilly and Company from $1,309.00 to $1,316.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Royal Bank Of Canada lifted their target price on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,416.64.

Eli Lilly and Company News Summary

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Foundayo met the primary endpoint in a Phase 3 trial for obstructive sleep apnea, reducing breathing interruptions by up to an average of 44%. Lilly plans to seek FDA approval for the additional use by year-end, which could broaden the pill’s commercial opportunity beyond weight loss. Reuters article
• Positive Sentiment: Jefferies raised its price target to $1,700 and maintained a Buy rating, signaling continued analyst confidence in Lilly’s prospects. Jefferies price target
• Positive Sentiment: Lilly’s agreement with Hims & Hers and a similar arrangement with LifeMD expands digital access to its branded obesity medicines, including Zepbound and Foundayo. Hims’ share-price decline following its own disappointing results appears company-specific; coverage reported Lilly holding steady. Yahoo Finance article
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add warnings about a possible increased risk of NAION, a rare eye condition that can cause sudden, potentially permanent vision loss. The class-wide warning could raise safety concerns for patients and investors, though the condition is rare. CNBC article

Eli Lilly and Company Trading Up 1.5%

LLY stock opened at $1,432.60 on Wednesday. Eli Lilly and Company has a 52-week low of $850.51 and a 52-week high of $1,453.00. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.35 trillion, a P/E ratio of 46.50, a PEG ratio of 1.69 and a beta of 0.40. The company’s 50-day simple moving average is $1,225.57 and its 200-day simple moving average is $1,104.56.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, beating the consensus estimate of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The firm had revenue of $24.40 billion during the quarter, compared to analyst estimates of $22.58 billion. During the same quarter in the previous year, the business earned $7.02 EPS. Eli Lilly and Company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a dividend of $1.73 per share. The ex-dividend date is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. Eli Lilly and Company’s dividend payout ratio is currently 22.46%.

Insider Activity at Eli Lilly and Company

In other news, EVP Anat Hakim sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the completion of the transaction, the executive vice president directly owned 4,137 shares of the company’s stock, valued at $5,802,225.24. This represents a 54.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the transaction, the executive vice president directly owned 54,147 shares of the company’s stock, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is currently owned by company insiders.

Eli Lilly and Company Profile

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.