M&R Capital Management Inc. bought a new position in shares of Eli Lilly and Co. (NYSE:LLY) during the second quarter, Holdings Channel reports. The fund bought 2,691 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds have also made changes to their positions in the stock. Iowa State Bank acquired a new stake in shares of Eli Lilly and during the second quarter worth approximately $104,000. PineBridge Investments L.P. boosted its position in shares of Eli Lilly and by 208.6% in the second quarter. PineBridge Investments L.P. now owns 1,361 shares of the company’s stock worth $108,000 after buying an additional 920 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in shares of Eli Lilly and during the second quarter worth about $117,000. Coconut Grove Bank boosted its position in shares of Eli Lilly and by 3.3% in the second quarter. Coconut Grove Bank now owns 1,550 shares of the company’s stock worth $122,000 after buying an additional 50 shares during the last quarter. Finally, Physicians Financial Services Inc. boosted its position in shares of Eli Lilly and by 11.2% in the second quarter. Physicians Financial Services Inc. now owns 1,638 shares of the company’s stock worth $129,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Eli Lilly and Co. (NYSE:LLY) opened at 79.88 on Wednesday. The company’s 50 day moving average price is $79.51 and its 200-day moving average price is $76.76. Eli Lilly and Co. has a 52 week low of $67.88 and a 52 week high of $88.48. The company has a market capitalization of $84.49 billion, a P/E ratio of 34.43 and a beta of 0.20.

Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, meeting the consensus estimate of $0.86. The company earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. Eli Lilly and’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. Equities research analysts expect that Eli Lilly and Co. will post $3.59 earnings per share for the current year.

A number of equities analysts recently issued reports on the stock. Leerink Swann reiterated a “buy” rating on shares of Eli Lilly and in a research note on Sunday, June 26th. Morgan Stanley reiterated a “hold” rating and issued a $88.00 price target on shares of Eli Lilly and in a research note on Saturday, June 4th. BMO Capital Markets reiterated a “buy” rating and issued a $94.00 price target on shares of Eli Lilly and in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Friday, July 29th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Eli Lilly and in a research note on Thursday, May 26th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $96.85.

In related news, Director Jackson P. Tai purchased 2,560 shares of Eli Lilly and stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average cost of $80.42 per share, for a total transaction of $205,875.20. Following the completion of the transaction, the director now owns 42,110 shares in the company, valued at $3,386,486.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 220,000 shares of Eli Lilly and stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $77.86, for a total value of $17,129,200.00. Following the transaction, the insider now owns 126,963,785 shares of the company’s stock, valued at $9,885,400,300.10. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Eli Lilly and Company Profile

Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.

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