Victory Capital Management Inc. Reduces Position in Eli Lilly and Company (NYSE:LLY)

Victory Capital Management Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 659,585 shares of the company’s stock after selling 101,377 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Eli Lilly and Company worth $384,485,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $27,000. Legacy Financial Group LLC bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $35,000. Optiver Holding B.V. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $36,000. Finally, Family CFO Inc acquired a new position in Eli Lilly and Company in the third quarter worth $40,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $742.95.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded down $6.86 on Wednesday, hitting $774.24. The company had a trading volume of 1,254,453 shares, compared to its average volume of 3,048,152. Eli Lilly and Company has a 52 week low of $399.26 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 has a market cap of $735.65 billion, a PE ratio of 133.47, a PEG ratio of 1.61 and a beta of 0.34. The business has a 50-day simple moving average of $761.41 and a 200-day simple moving average of $669.21.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the company posted $1.62 EPS. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. Research analysts expect that Eli Lilly and Company will post 12.51 EPS for the current fiscal 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.