Conning Inc. increased its position in Eli Lilly and Co. (NYSE:LLY) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 38,009 shares of the company’s stock after buying an additional 140 shares during the period. Conning Inc.’s holdings in Eli Lilly and were worth $2,993,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Sanders Morris Harris Inc. bought a new stake in Eli Lilly and during the first quarter worth $740,000. Investment Centers of America Inc. boosted its stake in Eli Lilly and by 17.1% in the first quarter. Investment Centers of America Inc. now owns 26,787 shares of the company’s stock worth $1,922,000 after buying an additional 3,911 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Eli Lilly and by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 907,284 shares of the company’s stock worth $65,332,000 after buying an additional 30,962 shares during the last quarter. Chesley Taft & Associates LLC boosted its stake in Eli Lilly and by 8.0% in the first quarter. Chesley Taft & Associates LLC now owns 4,780 shares of the company’s stock worth $344,000 after buying an additional 356 shares during the last quarter. Finally, Douglas Lane & Associates LLC bought a new stake in Eli Lilly and during the first quarter worth $550,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eli Lilly and Co. (NYSE:LLY) traded down 0.21% during trading on Wednesday, hitting $80.71. 2,467,803 shares of the stock traded hands. Eli Lilly and Co. has a 12 month low of $67.88 and a 12 month high of $88.48. The firm has a market cap of $85.37 billion, a price-to-earnings ratio of 34.79 and a beta of 0.20. The company has a 50 day moving average price of $79.27 and a 200 day moving average price of $77.04.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.86. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.14 billion. Eli Lilly and had a net margin of 11.97% and a return on equity of 23.99%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. Analysts anticipate that Eli Lilly and Co. will post $3.59 earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Argus boosted their target price on shares of Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Friday, July 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $94.00 target price on shares of Eli Lilly and in a research note on Wednesday, July 27th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $105.00 target price on shares of Eli Lilly and in a research note on Saturday, August 13th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $97.16.
In related news, Director Jackson P. Tai bought 5,773 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was purchased at an average cost of $80.43 per share, with a total value of $464,322.39. Following the transaction, the director now owns 42,306 shares in the company, valued at approximately $3,402,671.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald A. Zakrowski sold 1,213 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $83.16, for a total transaction of $100,873.08. Following the completion of the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $108,108. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Eli Lilly and Company Profile
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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