Eli Lilly and Company (NYSE:LLY) Shares Acquired by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,350 shares of the company’s stock after acquiring an additional 200 shares during the period. ADAR1 Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LLY. Principal Financial Group Inc. increased its stake in Eli Lilly and Company by 5.3% in the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after purchasing an additional 60,306 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $11,657,000. Kovitz Investment Group Partners LLC increased its position in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at about $687,000. Finally, MCIA Inc increased its position in Eli Lilly and Company by 6.7% during the third quarter. MCIA Inc now owns 254 shares of the company’s stock worth $208,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Citigroup reduced their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Down 6.5 %

NYSE LLY opened at $737.56 on Monday. The firm has a market capitalization of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 52 week low of $692.96 and a 52 week high of $972.53. The company has a fifty day moving average of $848.36 and a two-hundred day moving average of $831.41. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.