Hardman Johnston Global Advisors LLC Reduces Position in Eli Lilly and Company $LLY

Hardman Johnston Global Advisors LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,749 shares of the company’s stock after selling 386 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Eli Lilly and Company were worth $13,836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Wellington Management Group LLP increased its holdings in shares of Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the period. Goldman Sachs Group Inc. boosted its position in Eli Lilly and Company by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after buying an additional 682,203 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Eli Lilly and Company in the first quarter valued at approximately $4,613,912,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.6%

LLY stock opened at $820.69 on Friday. The company’s 50-day simple moving average is $734.03 and its 200-day simple moving average is $766.34. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $937.00. The firm has a market cap of $776.75 billion, a P/E ratio of 53.64, a PEG ratio of 1.15 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on LLY shares. HSBC upgraded shares of Eli Lilly and Company from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $675.00 to $700.00 in a research note on Wednesday, August 27th. Daiwa America cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Sunday, August 17th. Cantor Fitzgerald cut their price target on Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 13th. Leerink Partners reaffirmed a “market perform” rating and set a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Finally, Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $939.61.

Insiders Place Their Bets

In related news, Director Jamere Jackson acquired 200 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is owned by insiders.

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.