Shulman DeMeo Asset Management LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Shulman DeMeo Asset Management LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,930 shares of the company’s stock after selling 57 shares during the period. Eli Lilly and Company comprises approximately 0.4% of Shulman DeMeo Asset Management LLC’s holdings, making the stock its 19th biggest holding. Shulman DeMeo Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC grew its holdings in Eli Lilly and Company by 7.4% during the 4th quarter. Scarborough Advisors LLC now owns 465 shares of the company’s stock worth $271,000 after acquiring an additional 32 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $43,000. Warren Street Wealth Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 15.4% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 964 shares of the company’s stock valued at $562,000 after buying an additional 129 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Eli Lilly and Company by 38.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 417,700 shares of the company’s stock valued at $243,486,000 after buying an additional 116,300 shares during the period. Finally, Livelsberger Financial Advisory acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $135,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LLY. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a report on Thursday, October 3rd. Barclays lifted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $979.29.

Eli Lilly and Company Price Performance

Shares of LLY stock traded down $16.19 during midday trading on Tuesday, reaching $913.32. 2,267,346 shares of the company were exchanged, compared to its average volume of 2,998,495. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company’s 50 day moving average price is $913.95 and its two-hundred day moving average price is $854.46. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53. The company has a market cap of $868.02 billion, a P/E ratio of 134.14, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. On average, sell-side analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and 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.