Rheos Capital Works Inc. Sells 34,400 Shares of Eli Lilly and Company (NYSE:LLY)

Rheos Capital Works Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 56.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,000 shares of the company’s stock after selling 34,400 shares during the quarter. Eli Lilly and Company accounts for 1.2% of Rheos Capital Works Inc.’s portfolio, making the stock its 27th largest position. Rheos Capital Works Inc.’s holdings in Eli Lilly and Company were worth $23,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth $40,000. Morton Brown Family Wealth LLC increased its position in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Eli Lilly and Company by 53.3% in the third 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 period. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LLY. BMO Capital Markets boosted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Bank of America lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $979.29.

Eli Lilly and Company Stock Up 0.3 %

Shares of Eli Lilly and Company stock opened at $916.33 on Thursday. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The firm’s 50 day moving average price is $919.25 and its 200-day moving average price is $855.84. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company has a market cap of $870.88 billion, a P/E ratio of 134.95, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating 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 firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. On average, sell-side analysts predict that Eli Lilly and Company will post 16.49 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.