Eli Lilly and Company (LLY) Position Lowered by Hodges Capital Management Inc.
Hodges Capital Management Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,513 shares of the company’s stock after selling 2,750 shares during the quarter. Hodges Capital Management Inc.’s holdings in Eli Lilly and were worth $1,359,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Joel Isaacson & Co. LLC lifted its stake in shares of Eli Lilly and by 1.5% in the first quarter. Joel Isaacson & Co. LLC now owns 3,364 shares of the company’s stock worth $283,000 after acquiring an additional 50 shares during the period. Sumitomo Life Insurance Co. lifted its stake in shares of Eli Lilly and by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 32,507 shares of the company’s stock worth $2,675,000 after acquiring an additional 1,370 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Eli Lilly and by 7.8% in the second quarter. Russell Investments Group Ltd. now owns 671,327 shares of the company’s stock worth $55,258,000 after acquiring an additional 48,706 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Eli Lilly and by 93.6% in the first quarter. Renaissance Technologies LLC now owns 2,980,400 shares of the company’s stock worth $250,681,000 after acquiring an additional 1,441,200 shares during the period. Finally, Stephens Inc. AR lifted its stake in shares of Eli Lilly and by 4.5% in the first quarter. Stephens Inc. AR now owns 44,023 shares of the company’s stock worth $3,703,000 after acquiring an additional 1,901 shares during the period. 75.72% of the stock is currently owned by institutional investors.
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In other news, major shareholder Lilly Endowment Inc sold 220,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $83.09, for a total value of $18,279,800.00. Following the completion of the transaction, the insider now owns 124,049,283 shares in the company, valued at approximately $10,307,254,924.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 590,000 shares of company stock valued at $48,551,300. 0.20% of the stock is currently owned by company insiders.
Shares of Eli Lilly and Company (LLY) opened at 85.54 on Friday. Eli Lilly and Company has a 12-month low of $64.18 and a 12-month high of $86.72. The company has a market cap of $90.24 billion, a P/E ratio of 37.01 and a beta of 0.34. The stock’s 50 day moving average price is $80.84 and its 200 day moving average price is $82.02.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. On average, analysts forecast that Eli Lilly and Company will post $4.16 EPS for the current year.
A number of research firms recently commented on LLY. Berenberg Bank reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Eli Lilly and in a research note on Friday, August 4th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of Eli Lilly and in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. lowered Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 price objective on the stock. in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Eli Lilly and in a research note on Thursday, August 31st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $91.00 price objective (up from $90.00) on shares of Eli Lilly and in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $88.27.
About Eli Lilly and
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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