Migdal Insurance & Financial Holdings Ltd. Increases Stake in Eli Lilly and Company (NYSE:LLY)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 48.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,818 shares of the company’s stock after buying an additional 1,567 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Eli Lilly and Company were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the period. Morgan Stanley lifted its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after buying an additional 83,915 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Eli Lilly and Company by 3.6% in the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after buying an additional 355,317 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $3,416,206,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 54,032 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following the sale, the insider now directly owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LLY. Truist Financial reiterated a “buy” rating and issued a $850.00 target price on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Barclays increased their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $3.32 during trading hours on Wednesday, hitting $750.06. 2,276,750 shares of the company were exchanged, compared to its average volume of 3,074,635. The stock has a market capitalization of $712.68 billion, a price-to-earnings ratio of 128.75, a PEG ratio of 1.64 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $367.35 and a 52-week high of $800.78. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The company’s 50 day moving average price is $763.51 and its 200-day moving average price is $657.01.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the business posted $2.09 EPS. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, research analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current 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.