Glaxis Capital Management LLC Acquires 980 Shares of Eli Lilly and Company $LLY

Glaxis Capital Management LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 20.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,660 shares of the company’s stock after purchasing an additional 980 shares during the period. Eli Lilly and Company accounts for approximately 15.6% of Glaxis Capital Management LLC’s investment portfolio, making the stock its largest holding. Glaxis Capital Management LLC’s holdings in Eli Lilly and Company were worth $6,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. BlackRock Inc. increased its stake in shares of Eli Lilly and Company by 1.6% during the 2nd quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock worth $81,009,981,000 after purchasing an additional 1,046,558 shares in the last quarter. State Street Corp lifted its stake in Eli Lilly and Company by 1.7% in the 2nd quarter. State Street Corp now owns 36,215,754 shares of the company’s stock valued at $43,438,262,000 after buying an additional 605,752 shares in the last quarter. Bank of America Corp DE acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eli Lilly and Company by 1.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock valued at $8,647,153,000 after buying an additional 137,364 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Eli Lilly and Company by 7.9% during the 2nd quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock valued at $6,550,587,000 after buying an additional 400,538 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.5%

Shares of LLY traded up $7.42 during trading hours on Friday, hitting $1,372.15. The stock had a trading volume of 3,802,992 shares, compared to its average volume of 2,624,130. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39. Eli Lilly and Company has a 12-month low of $850.51 and a 12-month high of $1,453.00. The firm has a market cap of $1.29 trillion, a P/E ratio of 44.54, a P/E/G ratio of 1.77 and a beta of 0.40. The company’s fifty day simple moving average is $1,215.24 and its 200 day simple moving average is $1,101.16.

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

Eli Lilly and Company Dividend Announcement

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

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 2,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total value of $2,370,020.00. Following the completion of the sale, the chief accounting officer directly owned 1,526 shares in the company, valued at approximately $1,808,325.26. This represents a 56.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the completion of the transaction, the executive vice president directly owned 4,137 shares in the company, valued at $5,802,225.24. This trade represents 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. Insiders sold 13,500 shares of company stock valued at $17,020,770 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Berenberg Bank upgraded 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 research report on Tuesday, September 15th. TD Cowen restated a “buy” rating and issued a $1,250.00 target price on shares of Eli Lilly and Company in a report on Tuesday, September 22nd. Citigroup raised their price target on shares of Eli Lilly and Company from $1,600.00 to $1,650.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Finally, Guggenheim lifted their price target on shares of Eli Lilly and Company from $1,273.00 to $1,284.00 and gave the stock a “buy” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,404.14.

More Eli Lilly and Company News

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

• Positive Sentiment: Lilly and Hims & Hers agreed to offer FDA-approved Zepbound and Foundayo through Hims & Hers’ telehealth platform. Eligible patients with a prescription can access Lilly’s self-pay prices—reportedly starting at $149—without leaving the platform. The deal could widen patient access and Lilly’s reach in the competitive obesity-treatment market. Lilly and Hims & Hers expand access to FDA-approved Lilly medicines
• Positive Sentiment: New Phase 3 results for investigational retatrutide showed substantial reductions in weight and knee pain among adults with obesity and knee osteoarthritis. Lilly also reported positive Phase 3b results for combining Taltz and Zepbound in people with psoriatic arthritis and obesity, supporting the potential of its medicines in additional patient groups. Lilly to showcase new retatrutide, Taltz and Zepbound data
• Negative Sentiment: Price competition across the GLP-1 market remains a risk to Lilly’s growth and drug margins, as branded treatments compete with lower-priced options and providers seek self-pay patients. Eli Lilly’s GLP-1 franchise faces growing price competition

Eli Lilly and Company Company Profile

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.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.