Corundum Group Inc. Sells 2,867 Shares of Eli Lilly and Company (NYSE:LLY)

Corundum Group Inc. lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 73.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,062 shares of the company’s stock after selling 2,867 shares during the period. Corundum Group Inc.’s holdings in Eli Lilly and Company were worth $941,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Penn Davis Mcfarland Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter worth about $2,007,000. Calton & Associates Inc. lifted its position in Eli Lilly and Company by 1,735.7% during the third quarter. Calton & Associates Inc. now owns 19,000 shares of the company’s stock valued at $16,833,000 after purchasing an additional 17,965 shares during the last quarter. ACT Advisors LLC. grew its stake in Eli Lilly and Company by 5.3% in the 3rd quarter. ACT Advisors LLC. now owns 278 shares of the company’s stock worth $246,000 after buying an additional 14 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Eli Lilly and Company by 10.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 408,494 shares of the company’s stock worth $361,901,000 after buying an additional 39,581 shares during the last quarter. Finally, Compass Ion Advisors LLC increased its holdings in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. Compass Ion Advisors LLC now owns 2,356 shares of the company’s stock worth $2,088,000 after buying an additional 16 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group increased their price objective on 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. Berenberg Bank raised 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 report on Wednesday, August 14th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Bank of America increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $917.97 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $921.21 and its 200 day simple moving average is $858.60. The stock has a market cap of $872.44 billion, a P/E ratio of 135.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current 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.