Eli Lilly and Company (NYSE:LLY) Shares Acquired by Covenant Partners LLC

Covenant Partners LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 436.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,371 shares of the company’s stock after acquiring an additional 4,370 shares during the period. Eli Lilly and Company comprises approximately 1.4% of Covenant Partners LLC’s holdings, making the stock its 12th largest holding. Covenant Partners LLC’s holdings in Eli Lilly and Company were worth $4,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the period. International Assets Investment Management LLC increased its position in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the period. Capital Research Global Investors increased its position in Eli Lilly and Company by 6.0% in the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares during the period. Capital International Investors increased its position in Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the period. Finally, GQG Partners LLC increased its position in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $892.70 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market cap of $848.43 billion, a price-to-earnings ratio of 131.47, a P/E/G ratio of 3.24 and a beta of 0.42. The business’s 50-day simple moving average is $919.74 and its 200-day simple moving average is $863.20. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53.

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, beating analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities research analysts expect that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LLY. Berenberg Bank increased their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, BMO Capital Markets raised 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 note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.41.

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.