Eli Lilly and Company $LLY Stock: Mesirow Financial Investment Management Inc. Raises Holdings

Mesirow Financial Investment Management Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,487 shares of the company’s stock after acquiring an additional 399 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Eli Lilly and Company were worth $17,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Torren Management LLC boosted its stake in Eli Lilly and Company by 357.1% in the 3rd quarter. Torren Management LLC now owns 32 shares of the company’s stock valued at $37,000 after purchasing an additional 25 shares during the period. Marshall & Sterling Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 60.0% in the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company’s stock valued at $37,000 after buying an additional 15 shares in the last quarter. Foresight Capital Management Advisors Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $49,000. AlphaCentric Advisors LLC bought a new position in Eli Lilly and Company during the 1st quarter worth $42,000. Finally, Caitlin John LLC bought a new position in Eli Lilly and Company during the 2nd quarter worth $64,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other Eli Lilly and Company news, EVP Patrik Jonsson sold 6,500 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the transaction, the executive vice president directly owned 54,147 shares of the company’s stock, valued at $63,628,139.70. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the completion of the transaction, the executive vice president owned 4,137 shares of the company’s stock, valued at $5,802,225.24. The trade was a 54.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LLY. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,500.00 to $1,650.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. TD Cowen restated a “buy” rating and issued a $1,250.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, September 22nd. Argus raised their price target on shares of Eli Lilly and Company from $1,300.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,450.00 price objective on shares of Eli Lilly and Company in a research note on Monday, October 26th. Finally, Berenberg Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 price objective for the company in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,416.64.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $1,432.60 on Wednesday. The business has a fifty day moving average price of $1,225.57 and a two-hundred day moving average price of $1,104.56. The stock has a market capitalization of $1.35 trillion, a PE ratio of 46.50, a P/E/G ratio of 1.69 and a beta of 0.40. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. Eli Lilly and Company has a fifty-two week low of $850.51 and a fifty-two week high of $1,453.00.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The company had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. During the same period in the prior year, the firm posted $7.02 EPS. Eli Lilly and Company’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities analysts predict that Eli Lilly and Company will post 35.70 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $6.92 annualized dividend and a yield of 0.5%. Eli Lilly and Company’s dividend payout ratio is currently 22.46%.

More Eli Lilly and Company News

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: Foundayo met the primary endpoint in a Phase 3 trial for obstructive sleep apnea, reducing breathing interruptions by up to an average of 44%. Lilly plans to seek FDA approval for the additional use by year-end, which could broaden the pill’s commercial opportunity beyond weight loss. Reuters article
• Positive Sentiment: Jefferies raised its price target to $1,700 and maintained a Buy rating, signaling continued analyst confidence in Lilly’s prospects. Jefferies price target
• Positive Sentiment: Lilly’s agreement with Hims & Hers and a similar arrangement with LifeMD expands digital access to its branded obesity medicines, including Zepbound and Foundayo. Hims’ share-price decline following its own disappointing results appears company-specific; coverage reported Lilly holding steady. Yahoo Finance article
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add warnings about a possible increased risk of NAION, a rare eye condition that can cause sudden, potentially permanent vision loss. The class-wide warning could raise safety concerns for patients and investors, though the condition is rare. CNBC article

About Eli Lilly and Company

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.