Eli Lilly and Company $LLY Stock: Confluence Wealth Services Inc. Grows Holdings

Confluence Wealth Services Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 3.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,790 shares of the company’s stock after buying 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 institutional investors also recently bought and sold shares of the company. Torren Management LLC raised its holdings in shares of Eli Lilly and Company by 357.1% during the third quarter. Torren Management LLC now owns 32 shares of the company’s stock valued at $37,000 after acquiring an additional 25 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 60.0% in 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 last quarter. Foresight Capital Management Advisors Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter worth approximately $49,000. AlphaCentric Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter worth approximately $42,000. Finally, Caitlin John LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $64,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Patrik Jonsson sold 6,500 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 54,147 shares in the company, valued at $63,628,139.70. This represents a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the completion of the sale, the executive vice president directly owned 4,137 shares of the company’s stock, valued at $5,802,225.24. This trade represents a 54.72% 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 owned by corporate insiders.

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

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Bank of America restated a “buy” rating and issued a $1,497.00 price objective on shares of Eli Lilly and Company in a report on Friday, October 30th. Citigroup lifted 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 note on Friday, October 30th. Argus upped their target price on shares of Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Finally, UBS Group increased their target price on shares of Eli Lilly and Company from $1,425.00 to $1,625.00 and gave the company a “buy” rating in a research report on Friday, October 30th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,416.64.

Eli Lilly and Company Trading Up 1.5%

LLY opened at $1,432.60 on Wednesday. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.40. The company’s 50 day simple moving average is $1,225.57 and its two-hundred day simple moving average is $1,104.56. Eli Lilly and Company has a 1-year low of $850.51 and a 1-year high of $1,453.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $24.40 billion during the quarter, compared to analyst estimates of $22.58 billion. During the same period in the prior year, the business earned $7.02 earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 35.70 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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 of this dividend 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 payout ratio is 22.46%.

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.