Rhenman & Partners Asset Management AB Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Rhenman & Partners Asset Management AB trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,450 shares of the company's stock after selling 2,050 shares during the quarter. Eli Lilly and Company accounts for 3.6% of Rhenman & Partners Asset Management AB's portfolio, making the stock its 2nd largest position. Rhenman & Partners Asset Management AB's holdings in Eli Lilly and Company were worth $35,087,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LLY. Highline Wealth Partners LLC lifted its position in 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. Kovitz Investment Group Partners LLC raised its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock valued at $41,000 after purchasing an additional 24,879 shares during the period. FPC Investment Advisory Inc. lifted its holdings in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $48,000. Finally, Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $50,000. Institutional investors own 82.53% of the company's stock.

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Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent research reports. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Citigroup reduced their target price 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 report on Tuesday, January 28th. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,018.89.

Insider Buying and Selling at Eli Lilly and Company

In other 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $3.45 during mid-day trading on Tuesday, hitting $727.18. 2,746,567 shares of the stock were exchanged, compared to its average volume of 3,336,718. The firm's 50-day simple moving average is $846.64 and its 200 day simple moving average is $830.05. The stock has a market capitalization of $689.49 billion, a price-to-earnings ratio of 62.12, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its 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 return on equity of 85.24% and a net margin of 23.51%. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

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.