McCarthy & Cox Makes New Investment in Eli Lilly and Company (NYSE:LLY)

McCarthy & Cox purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 233 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth $932,797,000. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares during the period. GQG Partners LLC increased its holdings in Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. Barclays lifted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $979.29.

Eli Lilly and Company Trading Up 2.3 %

Shares of LLY stock traded up $21.37 during trading hours on Friday, reaching $932.06. 2,293,874 shares of the stock were exchanged, compared to its average volume of 3,009,544. The firm has a market capitalization of $885.83 billion, a price-to-earnings ratio of 137.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The company’s 50-day moving average price is $910.84 and its 200-day moving average price is $852.86. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.49 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.