Bridgewater Associates LP Has $65.12 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Bridgewater Associates LP lifted its stake in Eli Lilly and Company (NYSE:LLY) by 15.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 84,356 shares of the company’s stock after buying an additional 11,085 shares during the quarter. Bridgewater Associates LP’s holdings in Eli Lilly and Company were worth $65,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LLY. Kane Investment Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at $3,103,000. AGP Franklin LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $261,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $239,351,000. Rossby Financial LCC bought a new position in Eli Lilly and Company during the 4th quarter valued at about $381,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Eli Lilly and Company in the fourth quarter valued at about $52,034,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 2.9 %

NYSE:LLY opened at $753.54 on Tuesday. 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 firm has a market capitalization of $714.48 billion, a price-to-earnings ratio of 64.35, a PEG ratio of 1.40 and a beta of 0.51. The business’s 50-day moving average price is $835.24 and its two-hundred day moving average price is $822.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, Truist Financial boosted their target price on shares of 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. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.00.

About Eli Lilly and Company

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.