MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Grows Stake in Eli Lilly and Company (NYSE:LLY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 64,775 shares of the company’s stock after acquiring an additional 1,614 shares during the period. Eli Lilly and Company accounts for approximately 1.8% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 18th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Eli Lilly and Company were worth $57,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Planning LLC purchased a new position in Eli Lilly and Company in the first quarter worth about $262,000. CHURCHILL MANAGEMENT Corp purchased a new position in Eli Lilly and Company in the first quarter worth about $6,916,000. M&G Plc purchased a new position in Eli Lilly and Company in the first quarter worth about $8,896,000. HighPoint Advisor Group LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth about $9,878,000. Finally, Leo Wealth LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth about $3,355,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Truist Financial boosted 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. Finally, Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $979.29.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $932.06 on Monday. The company has a market capitalization of $885.83 billion, a price-to-earnings ratio of 137.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average of $910.84 and a 200 day moving average of $853.38.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, sell-side analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and 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.