Bank of Montreal Can Has $1.67 Billion Position in Eli Lilly and Company (NYSE:LLY)

Bank of Montreal Can grew its position in Eli Lilly and Company (NYSE:LLY) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,839,140 shares of the company’s stock after purchasing an additional 26,158 shares during the quarter. Eli Lilly and Company comprises about 0.8% of Bank of Montreal Can’s portfolio, making the stock its 21st largest holding. Bank of Montreal Can’s holdings in Eli Lilly and Company were worth $1,670,288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company during the first quarter worth $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $6,916,000. M&G Plc bought a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $8,896,000. IPG Investment Advisors LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $351,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $9,878,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 0.7 %

Shares of LLY opened at $921.49 on Monday. The firm has a market cap of $875.79 billion, a P/E ratio of 135.71, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The firm’s 50-day simple moving average is $895.06 and its 200 day simple moving average is $838.73.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. Jefferies Financial Group raised their target price 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. BMO Capital Markets upped their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Citigroup assumed coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 58,749 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $915.26, for a total value of $53,770,609.74. Following the completion of the sale, the insider now owns 97,308,620 shares of the company’s stock, valued at $89,062,687,541.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 425,000 shares of company stock worth $394,455,351 in the last 90 days. Company insiders own 0.13% of the company’s stock.

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.