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

Rheos Capital Works Inc. lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 56.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,000 shares of the company’s stock after selling 34,400 shares during the period. Eli Lilly and Company makes up 1.2% of Rheos Capital Works Inc.’s investment 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the second quarter worth about $36,000. Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth about $40,000. Morton Brown Family Wealth LLC increased its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

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

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (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 business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Equities research analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Barclays boosted their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Berenberg Bank raised their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $979.29.

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.