316,678 Shares of Eli Lilly and Company $LLY Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Eli Lilly and Company (NYSE:LLY) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 316,678 shares of the company’s stock, valued at approximately $366,422,000. Eli Lilly and Company accounts for about 0.6% of Mirae Asset Global Investments Co. Ltd.’s investment portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Marshall & Sterling Wealth Advisors Inc. lifted its stake in shares of 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 valued at $37,000 after buying an additional 15 shares during the period. Foresight Capital Management Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at $49,000. AlphaCentric Advisors LLC acquired a new position in Eli Lilly and Company in the first quarter valued at $42,000. Caitlin John LLC acquired a new position in Eli Lilly and Company in the second quarter valued at $64,000. Finally, IMG Wealth Management Inc. increased its stake in Eli Lilly and Company by 500.0% in the second quarter. IMG Wealth Management Inc. now owns 60 shares of the company’s stock valued at $72,000 after purchasing an additional 50 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.4%

LLY stock opened at $1,412.06 on Tuesday. The company has a market cap of $1.33 trillion, a price-to-earnings ratio of 45.83, a PEG ratio of 1.73 and a beta of 0.46. The company has a quick ratio of 1.00, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $1,200.81 and a 200-day simple moving average of $1,094.25. Eli Lilly and Company has a 52 week low of $850.51 and a 52 week high of $1,449.68.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, topping the consensus estimate of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 97.83% and a net margin of 33.53%. The business had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. During the same period last year, the company posted $7.02 EPS. The business’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 35.18 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Analysts Set New Price Targets

LLY has been the topic of a number of research analyst reports. TD Cowen reissued a “buy” rating and issued a $1,250.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, September 22nd. HSBC lifted their price target on Eli Lilly and Company from $850.00 to $940.00 and gave the company a “reduce” rating in a report on Thursday, September 10th. Royal Bank Of Canada upped their price objective on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating and set a $1,413.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, October 20th. Finally, Citigroup raised their target price on shares of Eli Lilly and Company from $1,600.00 to $1,650.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,404.14.

Insider Transactions at Eli Lilly and Company

In other news, EVP Anat Hakim sold 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $1,190.00, for a total transaction of $5,950,000.00. Following the completion of the sale, the executive vice president owned 11,875 shares in the company, valued at approximately $14,131,250. The trade was a 29.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Donald A. Zakrowski sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the sale, the chief accounting officer owned 1,526 shares of the company’s stock, valued at approximately $1,808,325.26. This represents a 56.72% 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. Insiders have sold a total of 13,500 shares of company stock worth $15,958,170 in the last three months. 0.14% of the stock is currently owned by company insiders.

Trending Headlines about Eli Lilly and Company

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

• Positive Sentiment: Another strong quarter and higher guidance: Third-quarter revenue rose roughly 39% year over year to $24.4 billion, beating expectations, while adjusted EPS also exceeded estimates. Strong demand for Mounjaro and Zepbound led Lilly to raise its full-year outlook. Eli Lilly Just Delivered Another Blowout Quarter
• Positive Sentiment: Analyst price-target increases: Cantor Fitzgerald raised its target to $1,600 and maintained an “overweight” rating. Other firms, including JPMorgan, also boosted targets, reflecting continued confidence in Lilly’s earnings outlook. Cantor Fitzgerald price target
• Neutral Sentiment: Commercial reorganization: Lilly is combining its U.S. and international commercial operations into one division. The move could improve coordination and execution globally, but its financial effect is not yet clear. Lilly combines commercial divisions
• Negative Sentiment: Pricing and growth concerns: Medicare’s GLP-1 Bridge program and lower realized drug prices may pressure revenue and margins. Analysts also warn that growth could moderate after exceptionally strong results, while one-time revenue benefits may not recur. Lilly’s First Full Medicare Quarter
• Negative Sentiment: High expectations and concentration risk: With about two-thirds of revenue tied to its leading GLP-1 medicines and the shares trading at a premium valuation, investors may be taking profits and demanding evidence that rapid growth can continue. Eli Lilly: Softer Growth Ahead

Eli Lilly and Company Profile

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for a range of medical conditions. Its major therapeutic areas include diabetes and obesity, oncology, immunology, neuroscience and cardiovascular health.

The company’s portfolio includes Mounjaro and Trulicity for diabetes, Zepbound for chronic weight management, Humalog insulin, Taltz for inflammatory diseases, Verzenio for certain breast cancers and Kisunla for early symptomatic Alzheimer’s disease.