Praxis Investment Management Inc. Reduces Stock Holdings in Eli Lilly and Company $LLY

Praxis Investment Management Inc. lowered its position in Eli Lilly and Company (NYSE:LLY) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,350 shares of the company’s stock after selling 930 shares during the quarter. Eli Lilly and Company comprises about 1.1% of Praxis Investment Management Inc.’s holdings, making the stock its 16th biggest holding. Praxis Investment Management Inc.’s holdings in Eli Lilly and Company were worth $16,643,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of 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 valued at $83,669,349,000 after buying an additional 50,002,551 shares during the period. Nuveen LLC purchased a new position in Eli Lilly and Company in the first quarter worth approximately $4,613,912,000. Vanguard Group Inc. grew its position in 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 worth $65,432,218,000 after acquiring an additional 4,975,395 shares during the period. Cohen Investment Advisors LLC grew its holdings in shares of Eli Lilly and Company by 7,975.5% during the 1st quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company’s stock worth $647,225,000 after purchasing an additional 773,947 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Eli Lilly and Company by 106.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after buying an additional 765,010 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday. Wall Street Zen lowered Eli Lilly and Company from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 20th. Berenberg Bank restated a “hold” rating and set a $830.00 price target (down from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. HSBC raised their target price on Eli Lilly and Company from $700.00 to $800.00 in a report on Wednesday, October 1st. Finally, Morgan Stanley lowered their price objective on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $939.12.

Eli Lilly and Company Stock Down 1.0%

Shares of Eli Lilly and Company stock opened at $818.45 on Friday. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $935.63. The company has a 50 day moving average of $749.52 and a 200 day moving average of $766.23. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $774.63 billion, a P/E ratio of 53.49, a P/E/G ratio of 1.18 and a beta of 0.47.

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

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Daniel Skovronsky bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the purchase, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gabrielle Sulzberger bought 117 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $641.18 per share, with a total value of $75,018.06. Following the purchase, the director owned 2,703 shares of the company’s stock, valued at $1,733,109.54. The trade was a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock worth $2,894,841 over the last three months. Company insiders own 0.13% of the company’s stock.

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.