Absolute Gestao de Investimentos Ltda. Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 327 shares of the company's stock, valued at approximately $252,000.

A number of other hedge funds have also bought and sold shares of LLY. CWA Asset Management Group LLC raised its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock valued at $5,245,000 after purchasing an additional 724 shares during the period. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $514,000. Kentucky Trust Co bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $834,000. Proficio Capital Partners LLC grew its stake in Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after acquiring an additional 1,562 shares during the period. Finally, Cooper Financial Group increased its holdings in shares of Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company's stock valued at $2,050,000 after acquiring an additional 695 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $31.00 on Friday, reaching $825.10. The stock had a trading volume of 6,056,616 shares, compared to its average volume of 3,482,067. The business's 50 day moving average is $825.36 and its two-hundred day moving average is $816.37. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a market cap of $782.34 billion, a P/E ratio of 70.46, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of several research reports. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. UBS Group decreased their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday. Truist Financial boosted 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. Finally, Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,002.80.

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.