Iowa State Bank Increases Position in Eli Lilly and Company (NYSE:LLY)

Iowa State Bank boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.9% in the third quarter, Holdings Channel reports. The institutional investor owned 5,612 shares of the company’s stock after purchasing an additional 460 shares during the period. Iowa State Bank’s holdings in Eli Lilly and Company were worth $4,972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Redmont Wealth Advisors LLC bought a new position in Eli Lilly and Company during the 1st quarter valued at approximately $40,000. Morton Brown Family Wealth LLC increased its position in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new position in Eli Lilly and Company during the 4th quarter valued at approximately $43,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE LLY opened at $932.06 on Friday. The company has a market capitalization of $885.83 billion, a PE 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. The business’s fifty day moving average is $910.84 and its 200 day moving average is $852.32. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on LLY. Jefferies Financial Group increased their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Guggenheim increased their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays increased their target price 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $979.29.

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.