Sarasin & Partners LLP Buys 237,478 Shares of Eli Lilly and Company (NYSE:LLY)

by · The Markets Daily

Sarasin & Partners LLP raised its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 2,372.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,489 shares of the company’s stock after purchasing an additional 237,478 shares during the quarter. Eli Lilly and Company makes up about 1.6% of Sarasin & Partners LLP’s portfolio, making the stock its 27th biggest holding. Sarasin & Partners LLP’s holdings in Eli Lilly and Company were worth $144,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $107,000. Roundview Capital LLC boosted its stake in Eli Lilly and Company by 2.6% in the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after purchasing an additional 53 shares during the period. Merit Financial Group LLC bought a new stake in Eli Lilly and Company in the 1st quarter valued at $210,000. NewEdge Advisors LLC raised its holdings in Eli Lilly and Company by 9.9% in the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after acquiring an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in Eli Lilly and Company in the 1st quarter valued at $561,000. 81.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on LLY. Barclays lifted their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $815.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, February 20th. BMO Capital Markets upped their target price on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research note on Wednesday, February 21st. Finally, Morgan Stanley increased their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $677.62.

View Our Latest Report on LLY

Eli Lilly and Company Price Performance

Shares of LLY stock traded down $6.56 on Friday, reaching $754.17. The company’s stock had a trading volume of 3,730,053 shares, compared to its average volume of 3,382,536. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 12-month low of $323.26 and a 12-month high of $800.78. The company has a market capitalization of $716.59 billion, a P/E ratio of 130.03, a PEG ratio of 1.66 and a beta of 0.34. The stock’s 50 day simple moving average is $708.78 and its 200-day simple moving average is $625.80.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter last year, the business posted $2.09 earnings per share. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities analysts predict that Eli Lilly and Company will post 12.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 34,538 shares of Eli Lilly and Company stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $631.81, for a total value of $21,821,453.78. Following the transaction, the insider now owns 99,719,884 shares in the company, valued at $63,004,019,910.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 195,055 shares of company stock worth $125,254,657 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

(Free Report)

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.

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