Red Wave Investments LLC Has $348,000 Stake in Eli Lilly and Company (NYSE:LLY)

Red Wave Investments LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 597 shares of the company’s stock after selling 24 shares during the quarter. Red Wave Investments LLC’s holdings in Eli Lilly and Company were worth $348,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LLY. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $26,000. Thompson Investment Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth approximately $27,000. Legacy Financial Group LLC acquired a new position in shares of Eli Lilly and Company during the third quarter worth approximately $35,000. Optiver Holding B.V. bought a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $36,000. Finally, Family CFO Inc acquired a new stake in shares of Eli Lilly and Company in the third quarter worth $40,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $731.91 on Monday. The company has a market cap of $695.43 billion, a price-to-earnings ratio of 127.22, a PEG ratio of 1.60 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company’s fifty day simple moving average is $761.79 and its 200 day simple moving average is $667.10. Eli Lilly and Company has a 1-year low of $392.26 and a 1-year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the business posted $2.09 EPS. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on LLY. Truist Financial reiterated a “buy” rating and set a $850.00 target price on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Morgan Stanley increased their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $815.00 price objective on shares of Eli Lilly and Company in a research report on Monday, April 15th. Finally, The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by insiders.

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.