Fernwood Investment Management LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Fernwood Investment Management LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,652 shares of the company’s stock after selling 1,868 shares during the period. Eli Lilly and Company accounts for about 1.4% of Fernwood Investment Management LLC’s holdings, making the stock its 14th biggest holding. Fernwood Investment Management LLC’s holdings in Eli Lilly and Company were worth $5,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the last quarter. Morgan Stanley grew its holdings 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 valued at $6,738,605,000 after purchasing an additional 83,915 shares in the last quarter. Northern Trust Corp grew its holdings 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 valued at $5,456,314,000 after purchasing an additional 355,317 shares in the last quarter. International Assets Investment Management LLC grew its holdings 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 valued at $42,802,530,000 after purchasing an additional 7,330,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Eli Lilly and Company by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,435,311 shares of the company’s stock worth $2,382,339,000 after acquiring an additional 88,016 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Citigroup lifted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $815.00 price target on shares of Eli Lilly and Company in a research note on Monday, April 15th. Bank of America lifted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $728.05.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $3.82 on Monday, hitting $737.33. The company’s stock had a trading volume of 2,726,536 shares, compared to its average volume of 3,017,770. Eli Lilly and Company has a 52-week low of $392.26 and a 52-week high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average price of $761.79 and a 200-day moving average price of $667.10. The company has a market capitalization of $700.58 billion, a P/E ratio of 127.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. On average, equities research analysts expect that Eli Lilly and Company will post 12.51 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.