Bar Harbor Wealth Management Reduces Position in Eli Lilly and Company (NYSE:LLY)

Bar Harbor Wealth Management reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 77,288 shares of the company’s stock after selling 709 shares during the period. Eli Lilly and Company comprises approximately 4.4% of Bar Harbor Wealth Management’s portfolio, making the stock its 2nd biggest position. Bar Harbor Wealth Management’s holdings in Eli Lilly and Company were worth $68,473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the second quarter valued at about $36,000. Redmont Wealth Advisors LLC bought a new stake in Eli Lilly and Company in the 1st quarter worth about $40,000. Morton Brown Family Wealth LLC lifted its position in shares of 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 worth $41,000 after buying an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup started coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Berenberg Bank raised their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Eli Lilly and Company Stock Up 0.1 %

Shares of NYSE:LLY opened at $917.18 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a fifty day simple moving average of $920.70 and a two-hundred day simple moving average of $856.27. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The stock has a market capitalization of $871.69 billion, a price-to-earnings ratio of 135.08, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

About Eli Lilly and Company

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.