Lilly Endowment Inc., a significant shareholder of Eli Lilly & Co. (NYSE:LLY), disclosed the sale of shares worth approximately $183.6 million, according to recent filings. The transactions, which took place on February 6, involved the sale of multiple blocks of common stock at prices ranging from $866.067 to $887.316 per share.
The sales included several transactions, such as 5,070 shares sold at an average price of $866.067 and 6,763 shares at $867.186. Other notable transactions were 23,371 shares at $869.225 and 28,727 shares at $870.386. Following these transactions, Lilly Endowment Inc. still holds 96,681,978 shares of Eli Lilly.
These sales were executed under direct ownership, as indicated in the filing. The transactions reflect a strategic move by the Endowment, which remains a substantial stakeholder in the pharmaceutical giant. The company has maintained dividend payments for 55 consecutive years, demonstrating long-term financial stability. For deeper insights into Eli Lilly’s valuation and financial health, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Eli Lilly and Company has been the subject of several notable developments. Moody’s (NYSE:MCO) Ratings has upgraded Eli Lilly’s issuer rating to Aa3 from A1, anticipating robust earnings growth driven by the company’s incretin portfolio, which includes Mounjaro and Zepbound. The pharmaceutical firm has also seen success with its drug Omvoh, which has shown sustained efficacy in Crohn’s disease patients over two years of continuous treatment, as revealed by the VIVID-2 study.
In the realm of financial analysis, Bernstein research firm maintained an Outperform rating on Eli Lilly shares, with a price target of $1,100. This positive outlook comes amid a complex narrative surrounding the company’s prospective weight loss treatment, CagriSema. Meanwhile, Erste Group analysts upgraded Eli Lilly stock from Hold to Buy, citing a robust product demand and a promising pipeline of potential successes. They anticipate significant sales growth for the company this year.
Truist Securities also reaffirmed its Buy rating for Eli Lilly, with a $1,038.00 price target. Truist analysts highlighted the positive growth trends for Eli Lilly’s Zepbound, observing an increase in prescription counts over the past 13 weeks. These recent developments underscore the ongoing progress and promising outlook for Eli Lilly in the pharmaceutical sector.
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