Cercano Management LLC Buys 172,678 Shares of Eli Lilly and Company $LLY

Cercano Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 15,627.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 173,783 shares of the company’s stock after acquiring an additional 172,678 shares during the quarter. Eli Lilly and Company makes up about 3.9% of Cercano Management LLC’s portfolio, making the stock its 8th biggest position. Cercano Management LLC’s holdings in Eli Lilly and Company were worth $135,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Wellington Management Group LLP grew its position in Eli Lilly and Company by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock worth $10,495,261,000 after purchasing an additional 81,587 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Eli Lilly and Company by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock worth $4,808,443,000 after purchasing an additional 682,203 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Eli Lilly and Company during the 1st quarter valued at $4,613,912,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $1,024.67 on Friday. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $1,033.62. The stock’s 50-day moving average is $826.89 and its two-hundred day moving average is $780.14. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The firm has a market cap of $968.70 billion, a P/E ratio of 66.97, a PEG ratio of 1.21 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating the consensus estimate of $6.42 by $0.60. The business had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, November 14th. Eli Lilly and Company’s dividend payout ratio is 29.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Leerink Partners raised Eli Lilly and Company from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $886.00 to $1,104.00 in a research report on Monday, November 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Leerink Partnrs raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Daiwa America downgraded Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Eli Lilly and Company in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,015.11.

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.