Eli Lilly and Company $LLY Shares Bought by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.8% during the third quarter, Holdings Channel reports. The firm owned 34,277 shares of the company’s stock after buying an additional 3,348 shares during the quarter. Eli Lilly and Company makes up approximately 2.0% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 24th biggest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Eli Lilly and Company were worth $39,661,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Eli Lilly and Company by 1.6% during the second quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock valued at $81,009,981,000 after buying an additional 1,046,558 shares during the period. State Street Corp raised its stake in Eli Lilly and Company by 1.7% in the second quarter. State Street Corp now owns 36,215,754 shares of the company’s stock worth $43,438,262,000 after buying an additional 605,752 shares in the last quarter. Bank of America Corp DE purchased a new stake in Eli Lilly and Company in the second quarter worth about $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Eli Lilly and Company by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock worth $8,647,153,000 after buying an additional 137,364 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Eli Lilly and Company by 7.9% in the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock worth $6,550,587,000 after buying an additional 400,538 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $1,650.00 target price on shares of Eli Lilly and Company in a research note on Friday, October 30th. Jefferies Financial Group raised their target price on Eli Lilly and Company from $1,610.00 to $1,700.00 and gave the company a “buy” rating in a research note on Monday. HSBC lifted their price target on Eli Lilly and Company from $850.00 to $940.00 and gave the company a “reduce” rating in a research report on Thursday, September 10th. Finally, Wells Fargo & Company upped their price target on Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,416.64.

Key Stories Impacting Eli Lilly and Company

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

Insider Activity at Eli Lilly and Company

In related news, EVP Anat Hakim sold 5,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the sale, the executive vice president owned 4,137 shares in the company, valued at approximately $5,802,225.24. The trade was a 54.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the sale, the executive vice president owned 54,147 shares in the company, valued at $63,628,139.70. This represents a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 Price Performance

NYSE LLY opened at $1,432.60 on Wednesday. Eli Lilly and Company has a one year low of $850.51 and a one year high of $1,453.00. The stock has a 50-day moving average of $1,225.57 and a 200 day moving average of $1,104.56. The company has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.69 and a beta of 0.40. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share for the quarter, beating analysts’ consensus estimates of $5.71 by $1.77. The company had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $22.58 billion. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. Eli Lilly and Company’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.02 earnings per share. On average, sell-side analysts forecast that Eli Lilly and Company will post 35.70 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company 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 $1.73 dividend. 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 presently 22.46%.

About Eli Lilly and Company

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.