Eli Lilly and Company (NYSE:LLY) is Assenagon Asset Management S.A.’s 9th Largest Position

Assenagon Asset Management S.A. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 100.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,165,696 shares of the company’s stock after buying an additional 584,866 shares during the quarter. Eli Lilly and Company comprises 1.9% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 9th biggest holding. Assenagon Asset Management S.A.’s holdings in Eli Lilly and Company were worth $1,032,737,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in LLY. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the second quarter valued at $36,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the first quarter valued at about $40,000. Morton Brown Family Wealth LLC boosted its stake in shares of 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 buying an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Eli Lilly and Company by 53.3% during the third 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 period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of 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, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,025.00 target price on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and Company Stock Down 1.3 %

LLY opened at $891.66 on Friday. 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 company has a market cap of $847.44 billion, a price-to-earnings ratio of 131.32, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53. The business’s fifty day moving average is $921.12 and its two-hundred day moving average is $860.74.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

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.