Rhenman & Partners Asset Management AB Has $35.09 Million Stake in Eli Lilly and Company (NYSE:LLY)

Rhenman & Partners Asset Management AB trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,450 shares of the company’s stock after selling 2,050 shares during the period. Eli Lilly and Company makes up 3.6% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 2nd largest holding. Rhenman & Partners Asset Management AB’s holdings in Eli Lilly and Company were worth $35,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. FPC Investment Advisory Inc. grew its position in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LLY. 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 research note on Monday, February 3rd. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

NYSE:LLY 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 stock’s 50 day simple moving average is $848.36 and its two-hundred day simple moving average is $832.44. The company has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. As a group, equities analysts anticipate 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 of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred 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 directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

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.