Zweig DiMenna Associates LLC Acquires 2,460 Shares of Eli Lilly and Company (NYSE:LLY)

Zweig DiMenna Associates LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 12.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 22,140 shares of the company’s stock after purchasing an additional 2,460 shares during the period. Eli Lilly and Company accounts for about 2.0% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 15th biggest holding. Zweig DiMenna Associates LLC’s holdings in Eli Lilly and Company were worth $19,615,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LLY. Berenberg Bank lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Truist Financial raised their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,013.41.

Eli Lilly and Company Stock Performance

LLY stock opened at $892.51 on Friday. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The firm has a market cap of $848.27 billion, a price-to-earnings ratio of 109.92, a PEG ratio of 3.24 and a beta of 0.42. The business’s fifty day simple moving average is $920.32 and its two-hundred day simple moving average is $860.96. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Analysts predict that Eli Lilly and Company will post 14.05 earnings per share for the current year.

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.