Harvest Fund Management Co. Ltd Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Harvest Fund Management Co. Ltd increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,204 shares of the company’s stock after buying an additional 355 shares during the period. Eli Lilly and Company comprises approximately 0.8% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 22nd biggest holding. Harvest Fund Management Co. Ltd’s holdings in Eli Lilly and Company were worth $5,368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Thompson Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $27,000. Legacy Financial Group LLC bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $35,000. Optiver Holding B.V. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $36,000. Finally, Family CFO Inc bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $815.00 target price on shares of Eli Lilly and Company in a research report on Monday, April 15th. Bank of America boosted their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Barclays boosted their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded up $14.29 during midday trading on Tuesday, reaching $745.62. 2,041,595 shares of the stock traded hands, compared to its average volume of 3,051,032. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average price of $763.89 and a two-hundred day moving average price of $664.05. The firm has a market cap of $708.46 billion, a price-to-earnings ratio of 128.56, a PEG ratio of 1.58 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $370.68 and a fifty-two week high of $800.78.

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

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.