Grassi Investment Management Lowers stake in Eli Lilly and Co (LLY)

Eli Lilly and Co (LLY) : Grassi Investment Management reduced its stake in Eli Lilly and Co by 0.26% during the most recent quarter end. The investment management company now holds a total of 111,439 shares of Eli Lilly and Co which is valued at $9,116,825 after selling 292 shares in Eli Lilly and Co , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Eli Lilly and Co makes up approximately 1.76% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in LLY in the latest quarter, The investment management firm added 5,509 additional shares and now holds a total of 211,177 shares of Eli Lilly and Co which is valued at $17,540,362. Eli Lilly and Co makes up approx 0.38% of Oregon Public Employees Retirement Fund’s portfolio.Lynch Associatesin reduced its stake in LLY by selling 12 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 6,999 shares of LLY which is valued at $572,168. Eli Lilly and Co makes up approx 0.25% of Lynch Associatesin’s portfolio.

Eli Lilly and Co closed down -1.25 points or -1.50% at $81.81 with 42,18,223 shares getting traded on Tuesday. Post opening the session at $82.6, the shares hit an intraday low of $81.25 and an intraday high of $82.85 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Eli Lilly and Co reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.85. The company had revenue of $5404.80 million for the quarter, compared to analysts expectations of $5157.09 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

Many Wall Street Analysts have commented on Eli Lilly and Co. Eli Lilly and Co was Upgraded by Goldman to ” Buy” on Sep 27, 2016. Eli Lilly and Co was Upgraded by JP Morgan to ” Overweight” on Sep 8, 2016.

Eli Lilly and Company (Lilly) is engaged in drug manufacturing business. The Company discovers develops manufactures and market products in two segments: human pharmaceutical products and animal health products. The Company’s products are sold in approximately 120 countries. The Company’s human pharmaceutical business segment sells medicines which are discovered or developed by its scientists. Its animal health business segment operates through the Company’s Elanco division which develops manufactures and markets products for both food animals and companion animals. The Company manufactures and distributes its products through facilities in the United States Puerto Rico and 11 other countries. Its products include endocrinology products neuroscience products oncology products cardiovascular products products for food animals products for companion animals and Novartis AH products.

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