Sit Investment Associates Inc. Buys 3,018 Shares of Eli Lilly and Company (NYSE:LLY)

Sit Investment Associates Inc. lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,218 shares of the company's stock after purchasing an additional 3,018 shares during the quarter. Sit Investment Associates Inc.'s holdings in Eli Lilly and Company were worth $22,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LLY. Highline Wealth Partners LLC increased 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 worth $35,000 after purchasing an additional 20 shares in the last quarter. FPC Investment Advisory Inc. boosted its position in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after buying an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company in the 4th quarter worth about $48,000. Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the 4th quarter worth about $50,000. Finally, Fiduciary Advisors Inc. bought a new position in Eli Lilly and Company during the 4th quarter valued at about $58,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded down $8.85 during trading hours on Tuesday, hitting $714.88. The company's stock had a trading volume of 2,938,936 shares, compared to its average volume of 3,337,692. The company has a market cap of $677.83 billion, a PE ratio of 60.99, a PEG ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business has a 50 day moving average price of $846.64 and a two-hundred day moving average price of $830.05. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

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Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (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%. Analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

LLY has been the subject of several research reports. Citigroup decreased 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 report on Tuesday, January 28th. Bank of America reissued a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the company from $892.00 to $888.00 in a report on Tuesday. Finally, StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,018.89.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on 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 owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company's stock.

Eli Lilly and 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.