Eli Lilly and Company (NYSE:LLY) Shares Sold by Nexus Investment Management ULC

Nexus Investment Management ULC cut its stake in Eli Lilly and Company (NYSE:LLY) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 809 shares of the company’s stock after selling 17 shares during the quarter. Nexus Investment Management ULC’s holdings in Eli Lilly and Company were worth $717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $36,000. Cedar Mountain Advisors LLC increased its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC increased 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 purchasing an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $45,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Guggenheim raised their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to 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 LLY opened at $913.85 on Wednesday. The stock has a 50-day simple moving average of $916.37 and a 200-day simple moving average of $855.42. The stock has a market capitalization of $868.53 billion, a PE ratio of 134.59, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53. 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 (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations 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, analysts predict 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.