Ted Buchan & Co Increases Position in Eli Lilly and Company (NYSE:LLY)

Ted Buchan & Co increased its holdings in Eli Lilly and Company (NYSE:LLY) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,449 shares of the company’s stock after acquiring an additional 313 shares during the period. Eli Lilly and Company comprises approximately 0.9% of Ted Buchan & Co’s portfolio, making the stock its 28th biggest holding. Ted Buchan & Co’s holdings in Eli Lilly and Company were worth $1,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares during the period. Point72 Asset Management L.P. purchased a new stake in Eli Lilly and Company in the third quarter worth $11,657,000. Temasek Holdings Private Ltd raised its stake in shares of Eli Lilly and Company by 132.1% in the third quarter. Temasek Holdings Private Ltd now owns 70,300 shares of the company’s stock valued at $62,282,000 after buying an additional 40,017 shares during the period. Weaver Consulting Group lifted its position in shares of Eli Lilly and Company by 7.4% during the 3rd quarter. Weaver Consulting Group now owns 635 shares of the company’s stock valued at $563,000 after buying an additional 44 shares during the last quarter. Finally, Wallace Capital Management Inc. grew its stake in shares of Eli Lilly and Company by 9.7% during the 3rd quarter. Wallace Capital Management Inc. now owns 1,130 shares of the company’s stock worth $1,001,000 after acquiring an additional 100 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on LLY. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. 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. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a report on Thursday, March 6th. Finally, Citigroup cut 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. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Down 6.5 %

Shares of Eli Lilly and Company stock opened at $737.56 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The firm has a market cap of $699.33 billion, a PE ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34. The company has a 50 day simple moving average of $848.36 and a two-hundred day simple moving average of $832.44.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 85.24% and a net margin of 23.51%. 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 has approved a stock repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.