Mitsubishi UFJ Asset Management UK Ltd. Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Mitsubishi UFJ Asset Management UK Ltd. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 55.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,800 shares of the company’s stock after selling 2,200 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Eli Lilly and Company were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Swedbank AB bought a new position in Eli Lilly and Company during the first quarter valued at $932,797,000. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after purchasing an additional 936,033 shares during the last quarter. GQG Partners LLC boosted its position in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after buying an additional 648,094 shares during the period. Finally, Comerica Bank grew its stake in shares of Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after buying an additional 631,312 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $917.97 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a market cap of $872.44 billion, a PE ratio of 135.19, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The business’s fifty day simple moving average is $921.21 and its 200-day simple moving average is $858.02.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets raised 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. Jefferies Financial Group boosted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

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.