Westend Capital Management LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Westend Capital Management LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 53.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,682 shares of the company’s stock after selling 7,714 shares during the period. Eli Lilly and Company comprises 2.0% of Westend Capital Management LLC’s holdings, making the stock its 23rd biggest position. Westend Capital Management LLC’s holdings in Eli Lilly and Company were worth $5,920,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of LLY. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the second quarter worth about $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC increased its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $45,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company in the first quarter valued at $40,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LLY shares. Barclays upped their price target on shares of 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. Citigroup initiated coverage on Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, Berenberg Bank increased their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $979.29.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $932.06 on Friday. The firm’s 50 day simple moving average is $910.84 and its 200-day simple moving average is $852.86. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53. The firm has a market cap 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.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. As a group, equities analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

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.