Convergence Investment Partners LLC Reduces Position in Eli Lilly and Company $LLY

Convergence Investment Partners LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 838 shares of the company’s stock after selling 82 shares during the period. Convergence Investment Partners LLC’s holdings in Eli Lilly and Company were worth $653,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in shares of Eli Lilly and Company by 97.5% during the first 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. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Eli Lilly and Company by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after purchasing an additional 682,203 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $4,613,912,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LLY shares. Wall Street Zen lowered Eli Lilly and Company from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 20th. JPMorgan Chase & Co. lowered their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set an “overweight” rating for the company in a report on Tuesday, September 16th. Morgan Stanley lowered their price target on Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating for the company in a report on Friday, October 3rd. BMO Capital Markets boosted their price target on Eli Lilly and Company from $840.00 to $930.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Eli Lilly and Company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $938.61.

Eli Lilly and Company Stock Up 0.0%

Eli Lilly and Company stock opened at $825.74 on Tuesday. The business has a fifty day moving average of $770.54 and a two-hundred day moving average of $769.08. 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 firm has a market cap of $781.53 billion, a P/E ratio of 53.97, a P/E/G ratio of 1.23 and a beta of 0.47. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $935.63.

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

Insider Activity at Eli Lilly and Company

In related news, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the acquisition, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David A. Ricks purchased 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares of the company’s stock, valued at approximately $352,431,926.77. This represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Insiders own 0.14% 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.