Waycross Partners LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Waycross Partners LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 27.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,500 shares of the company’s stock after selling 2,400 shares during the period. Waycross Partners LLC’s holdings in Eli Lilly and Company were worth $3,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $26,000. Thompson Investment Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth about $27,000. Legacy Financial Group LLC bought a new position in Eli Lilly and Company in the 3rd quarter worth about $35,000. Optiver Holding B.V. bought a new position in Eli Lilly and Company in the 3rd quarter worth about $36,000. Finally, Family CFO Inc purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.9 %

Shares of Eli Lilly and Company stock traded down $6.91 on Wednesday, reaching $774.19. The company’s stock had a trading volume of 490,461 shares, compared to its average volume of 3,038,241. The company has a market capitalization of $735.60 billion, a price-to-earnings ratio of 134.75, a P/E/G ratio of 1.61 and a beta of 0.34. The firm’s fifty day simple moving average is $761.41 and its two-hundred day simple moving average is $669.21. Eli Lilly and Company has a 52 week low of $399.26 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.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the business earned $1.62 earnings per share. Eli Lilly and Company’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 12.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LLY shares. BMO Capital Markets increased their target price on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, March 15th. The Goldman Sachs Group increased their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Barclays increased their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley increased their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $733.65.

Eli Lilly and 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.