Avity Investment Management Inc. Grows Position in Eli Lilly and Company (NYSE:LLY)

Avity Investment Management Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430 shares of the company’s stock after buying an additional 250 shares during the quarter. Avity Investment Management Inc.’s holdings in Eli Lilly and Company were worth $1,267,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LLY. Public Employees Retirement System of Ohio grew its holdings in Eli Lilly and Company by 2.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 483,445 shares of the company’s stock valued at $281,810,000 after buying an additional 11,421 shares in the last quarter. O Dell Group LLC lifted its stake in shares of Eli Lilly and Company by 2.0% in the 4th quarter. O Dell Group LLC now owns 884 shares of the company’s stock valued at $516,000 after purchasing an additional 17 shares during the last quarter. Optimist Retirement Group LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $2,511,000. PCA Investment Advisory Services Inc. lifted its stake in shares of Eli Lilly and Company by 7.4% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 1,006 shares of the company’s stock valued at $586,000 after purchasing an additional 69 shares during the last quarter. Finally, Oarsman Capital Inc. lifted its stake in shares of Eli Lilly and Company by 39.5% in the 4th quarter. Oarsman Capital Inc. now owns 2,587 shares of the company’s stock valued at $1,508,000 after purchasing an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock traded up $21.37 during trading on Friday, reaching $932.06. The company had a trading volume of 2,293,874 shares, compared to its average volume of 3,009,544. The firm has a 50-day simple moving average of $910.84 and a 200-day simple moving average of $852.32. The company has a market cap 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. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LLY shares. Barclays raised their price objective 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. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $979.29.

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.