Absolute Gestao de Investimentos Ltda. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 327 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Proficio Capital Partners LLC increased its holdings in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the period. Raymond James Financial Inc. bought a new stake in Eli Lilly and Company during the 4th quarter valued at $1,240,653,000. Parnassus Investments LLC increased its holdings in shares of Eli Lilly and Company by 38,959.8% in the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after acquiring an additional 932,309 shares during the period. Polen Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 164.4% during the 4th quarter. Polen Capital Management LLC now owns 1,295,389 shares of the company’s stock worth $1,000,040,000 after purchasing an additional 805,434 shares during the last quarter. Finally, Essential Planning LLC. lifted its stake in shares of Eli Lilly and Company by 6,406.9% during the 4th quarter. Essential Planning LLC. now owns 716,081 shares of the company’s stock worth $593,544,000 after purchasing an additional 705,076 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday. Finally, Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.80.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $825.10 on Friday. 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 has a 52 week low of $677.09 and a 52 week high of $972.53. The firm’s 50 day moving average is $825.36 and its two-hundred day moving average is $816.37. The firm has a market capitalization of $782.34 billion, a P/E ratio of 70.46, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The business’s revenue was up 45.2% on a year-over-year basis. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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.