Magnetar Financial LLC Takes $3.53 Million Position in Eli Lilly and Company (NYSE:LLY)

Magnetar Financial LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,572 shares of the company’s stock, valued at approximately $3,530,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Eli Lilly and Company by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after acquiring an additional 60,306 shares during the last quarter. Quest Partners LLC grew its position in Eli Lilly and Company by 29.2% during the 3rd quarter. Quest Partners LLC now owns 1,053 shares of the company’s stock worth $933,000 after acquiring an additional 238 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $10,115,000. First Horizon Advisors Inc. grew its position in Eli Lilly and Company by 0.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 10,057 shares of the company’s stock worth $8,910,000 after acquiring an additional 26 shares during the last quarter. Finally, Moran Wealth Management LLC grew its position in Eli Lilly and Company by 2.1% during the 3rd quarter. Moran Wealth Management LLC now owns 8,827 shares of the company’s stock worth $7,820,000 after acquiring an additional 180 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

LLY stock opened at $843.35 on Friday. The business’s fifty day moving average is $835.19 and its 200-day moving average is $840.70. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a market cap of $799.64 billion, a P/E ratio of 72.02, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has initiated a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was 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 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 can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

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.