NEOS Investment Management LLC Acquires 11,383 Shares of Eli Lilly and Company (NYSE:LLY)

NEOS Investment Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 29.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 50,540 shares of the company’s stock after purchasing an additional 11,383 shares during the period. Eli Lilly and Company comprises about 0.9% of NEOS Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. NEOS Investment Management LLC’s holdings in Eli Lilly and Company were worth $39,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moment Partners LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $1,063,000. Sava Infond d.o.o. bought a new position in Eli Lilly and Company during the 4th quarter valued at $7,419,000. WINTON GROUP Ltd lifted its stake in Eli Lilly and Company by 1,093.3% during the 4th quarter. WINTON GROUP Ltd now owns 4,248 shares of the company’s stock valued at $3,279,000 after acquiring an additional 3,892 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Eli Lilly and Company by 1.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 41,618 shares of the company’s stock worth $32,129,000 after acquiring an additional 574 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Eli Lilly and Company by 11.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,303,992 shares of the company’s stock valued at $1,019,696,000 after purchasing an additional 137,287 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $826.84 on Thursday. The firm’s 50 day moving average is $841.16 and its 200 day moving average is $837.54. The stock has a market capitalization of $783.98 billion, a P/E ratio of 70.61, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. 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 (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

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.