Eli Lilly and Company (NYSE:LLY) Position Reduced by Farrow Financial Inc.

Farrow Financial Inc. cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,446 shares of the company’s stock after selling 23 shares during the quarter. Farrow Financial Inc.’s holdings in Eli Lilly and Company were worth $2,167,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Covenant Partners LLC lifted its position in shares of Eli Lilly and Company by 436.6% in the third quarter. Covenant Partners LLC now owns 5,371 shares of the company’s stock worth $4,758,000 after purchasing an additional 4,370 shares in the last quarter. PFG Investments LLC lifted its position in shares of Eli Lilly and Company by 10.6% in the third quarter. PFG Investments LLC now owns 7,572 shares of the company’s stock worth $6,709,000 after purchasing an additional 723 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Masso Torrence Wealth Management Inc. lifted its position in shares of Eli Lilly and Company by 12.5% in the third quarter. Masso Torrence Wealth Management Inc. now owns 703 shares of the company’s stock worth $623,000 after purchasing an additional 78 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its position in shares of Eli Lilly and Company by 10.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 6,846 shares of the company’s stock worth $6,065,000 after purchasing an additional 655 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on LLY shares. Bank of America increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Barclays increased their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Trading Up 0.2 %

Shares of LLY stock opened at $892.70 on Monday. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month 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 business’s 50 day moving average is $919.74 and its two-hundred day moving average is $863.20. The company has a market cap of $848.43 billion, a PE ratio of 131.47, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Equities analysts predict that Eli Lilly and Company will post 14.05 EPS for the current year.

About Eli Lilly and Company

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.