Eli Lilly and Company (NYSE:LLY) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in Eli Lilly and Company (NYSE:LLY) by 3.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 767 shares of the company’s stock after selling 26 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Eli Lilly and Company were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Lipe & Dalton acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $26,000. Thompson Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. Legacy Financial Group LLC purchased a new position in Eli Lilly and Company in the third quarter worth $35,000. Optiver Holding B.V. purchased a new position in Eli Lilly and Company in the third quarter worth $36,000. Finally, Family CFO Inc purchased a new position in Eli Lilly and Company in the third quarter worth $40,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $733.51 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 52-week low of $380.77 and a 52-week high of $800.78. The stock’s 50 day moving average is $761.79 and its two-hundred day moving average is $666.06. The company has a market capitalization of $696.95 billion, a PE ratio of 126.47, a P/E/G ratio of 1.58 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the business earned $2.09 EPS. The business’s quarterly revenue was up 28.1% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, DZ Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company 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.