Eli Lilly and Company (NYSE:LLY) Shares Purchased by PFM Health Sciences LP

PFM Health Sciences LP boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 49.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,455 shares of the company’s stock after purchasing an additional 174,810 shares during the period. Eli Lilly and accounts for approximately 3.0% of PFM Health Sciences LP’s holdings, making the stock its 7th largest holding. PFM Health Sciences LP’s holdings in Eli Lilly and were worth $98,166,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Avitas Wealth Management LLC boosted its position in Eli Lilly and by 0.3% in the 4th quarter. Avitas Wealth Management LLC now owns 19,091 shares of the company’s stock valued at $3,223,000 after buying an additional 55 shares during the last quarter. AFT Forsyth & Company Inc. boosted its position in Eli Lilly and by 0.8% in the 1st quarter. AFT Forsyth & Company Inc. now owns 6,750 shares of the company’s stock valued at $1,261,000 after buying an additional 55 shares during the last quarter. Citizens & Northern Corp boosted its position in Eli Lilly and by 0.5% in the 1st quarter. Citizens & Northern Corp now owns 11,529 shares of the company’s stock valued at $2,154,000 after buying an additional 55 shares during the last quarter. Wimmer Associates 1 LLC boosted its position in Eli Lilly and by 4.1% in the 1st quarter. Wimmer Associates 1 LLC now owns 1,410 shares of the company’s stock valued at $263,000 after buying an additional 55 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its position in Eli Lilly and by 1.7% in the 4th quarter. Advisors Capital Management LLC now owns 3,325 shares of the company’s stock valued at $561,000 after buying an additional 56 shares during the last quarter. 81.57% of the stock is owned by hedge funds and other institutional investors.

LLY stock traded up $1.76 during midday trading on Thursday, hitting $239.05. 25,734 shares of the company’s stock were exchanged, compared to its average volume of 3,088,426. The stock’s fifty day moving average is $219.01. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.10 and a current ratio of 1.42. The company has a market cap of $229.26 billion, a P/E ratio of 35.47, a PEG ratio of 1.88 and a beta of 0.26. Eli Lilly and Company has a one year low of $129.21 and a one year high of $239.37.

Eli Lilly and (NYSE:LLY) last posted its earnings results on Monday, April 26th. The company reported $1.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.25). The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.10 billion. Eli Lilly and had a return on equity of 132.28% and a net margin of 23.91%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. On average, analysts predict that Eli Lilly and Company will post 7.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Friday, August 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, August 12th. Eli Lilly and’s dividend payout ratio is 42.88%.

Eli Lilly and announced that its board has initiated a share repurchase plan on Monday, May 3rd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

A number of research analysts have commented on LLY shares. JPMorgan Chase & Co. increased their price objective on Eli Lilly and from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, June 15th. The Goldman Sachs Group raised their price target on Eli Lilly and from $252.00 to $270.00 and gave the stock a “conviction-buy” rating in a research report on Monday, June 14th. Truist Securities raised their price target on Eli Lilly and from $225.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, July 2nd. Cowen raised their price target on Eli Lilly and from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, June 24th. Finally, Barclays raised their price target on Eli Lilly and from $227.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $232.13.

In other Eli Lilly and news, CAO Donald A. Zakrowski sold 3,000 shares of Eli Lilly and stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $181.38, for a total value of $544,140.00. Following the sale, the chief accounting officer now owns 5,987 shares of the company’s stock, valued at approximately $1,085,922.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 99,931 shares of Eli Lilly and stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $200.48, for a total value of $20,034,166.88. Following the completion of the sale, the insider now directly owns 110,204,369 shares in the company, valued at approximately $22,093,771,897.12. The disclosure for this sale can be found here. Insiders sold a total of 917,387 shares of company stock worth $211,370,333 in the last three months. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Profile

Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for Eli Lilly and (NYSE:LLY)

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