Financial Management Network Inc. Sells 95 Shares of Eli Lilly and Company (NYSE:LLY)

Financial Management Network Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 6.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,449 shares of the company’s stock after selling 95 shares during the period. Financial Management Network Inc.’s holdings in Eli Lilly and Company were worth $1,286,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the second quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth $36,000. Redmont Wealth Advisors LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at $40,000. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $892.70 on Friday. The business has a 50 day simple moving average of $919.74 and a 200 day simple moving average of $862.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market capitalization of $848.45 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a one year low of $547.61 and a one year 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. On average, sell-side analysts forecast that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Citigroup lifted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Bank of America upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,013.41.

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.