Magnetar Financial LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Magnetar Financial LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,572 shares of the company’s stock, valued at approximately $3,530,000.

A number of other large investors have also recently added to or reduced their stakes in LLY. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $50,000. Fiduciary Advisors Inc. bought a new position in Eli Lilly and Company during the fourth quarter worth about $58,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Eli Lilly and Company during the third quarter worth about $93,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LLY. Truist Financial lifted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target 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. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Citigroup reduced their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Up 0.8 %

NYSE LLY opened at $843.35 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a 50 day moving average of $835.19 and a 200-day moving average of $840.70. The company has a market cap of $799.64 billion, a price-to-earnings ratio of 72.02, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Company Profile

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.