Bank of Nova Scotia Boosts Position in Eli Lilly and Company $LLY

Bank of Nova Scotia boosted its stake in Eli Lilly and Company (NYSE:LLY) by 0.6% in the 2nd quarter, Holdings Channel reports. The firm owned 248,260 shares of the company’s stock after buying an additional 1,376 shares during the quarter. Bank of Nova Scotia’s holdings in Eli Lilly and Company were worth $193,524,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LLY. Laurel Wealth Advisors LLC grew its position in Eli Lilly and Company by 78,621.2% in the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock valued at $9,005,392,000 after acquiring an additional 11,537,661 shares in the last quarter. Norges Bank purchased a new position in shares of Eli Lilly and Company in the second quarter valued at $8,827,714,000. Nuveen LLC acquired a new stake in Eli Lilly and Company during the 1st quarter valued at $4,613,912,000. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock worth $62,680,004,000 after buying an additional 1,183,038 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Eli Lilly and Company by 106.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after buying an additional 765,010 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $1,009.26 on Monday. The firm’s 50 day moving average is $918.84 and its two-hundred day moving average is $810.35. The firm has a market capitalization of $954.13 billion, a P/E ratio of 49.38, a PEG ratio of 1.12 and a beta of 0.37. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $1,111.99.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $1.50 dividend. The ex-dividend date is Friday, November 14th. This represents a $6.00 annualized dividend and a yield of 0.6%. Eli Lilly and Company’s payout ratio is 29.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LLY shares. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. CICC Research lifted their price target on shares of Eli Lilly and Company from $801.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Finally, Morgan Stanley upped their target price on shares of Eli Lilly and Company from $1,171.00 to $1,290.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,087.32.

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.