Sycomore Asset Management Buys 3,462 Shares of Eli Lilly and Company (NYSE:LLY)

Sycomore Asset Management lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 446.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,237 shares of the company’s stock after acquiring an additional 3,462 shares during the period. Sycomore Asset Management’s holdings in Eli Lilly and Company were worth $2,464,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the last quarter. Morgan Stanley lifted its stake in Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after acquiring an additional 83,915 shares during the last quarter. Northern Trust Corp lifted its stake in Eli Lilly and Company by 3.6% in the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after acquiring an additional 355,317 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after acquiring an additional 7,330,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Eli Lilly and Company by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,435,311 shares of the company’s stock valued at $2,382,339,000 after acquiring an additional 88,016 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $13.49 during mid-day trading on Wednesday, reaching $732.20. The company had a trading volume of 2,052,626 shares, compared to its average volume of 3,038,542. The company’s 50 day simple moving average is $763.40 and its 200 day simple moving average is $664.52. Eli Lilly and Company has a 1-year low of $370.68 and a 1-year high of $800.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The company has a market capitalization of $695.71 billion, a price-to-earnings ratio of 126.24, a P/E/G ratio of 1.59 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the company posted $2.09 EPS. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 12.52 EPS for the current year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LLY. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Truist Financial reiterated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Morgan Stanley increased their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price for the company. in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $728.05.

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.