Wexford Capital LP Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Wexford Capital LP bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the third quarter, HoldingsChannel.com reports. The firm bought 1,871 shares of the company’s stock, valued at approximately $1,658,000.

Other hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth $30,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth $36,000. Cedar Mountain Advisors LLC raised its stake in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Morton Brown Family Wealth LLC lifted its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on LLY. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 0.5 %

Shares of LLY opened at $825.98 on Friday. The stock’s 50-day moving average price is $843.71 and its two-hundred day moving average price is $870.75. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a market capitalization of $784.11 billion, a PE ratio of 89.29, a PEG ratio of 3.08 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

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.