Bruce & Co. Inc. Invests $1.54 Million in Eli Lilly and Company (NYSE:LLY)

Bruce & Co. Inc. bought a new position in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $1,544,000. Eli Lilly and Company makes up about 0.5% of Bruce & Co. Inc.’s investment portfolio, making the stock its 24th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares in the last quarter. Quest Partners LLC increased its position in shares of Eli Lilly and Company by 29.2% in the third quarter. Quest Partners LLC now owns 1,053 shares of the company’s stock worth $933,000 after acquiring an additional 238 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $10,115,000. First Horizon Advisors Inc. lifted its position in shares of Eli Lilly and Company by 0.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 10,057 shares of the company’s stock valued at $8,910,000 after acquiring an additional 26 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Eli Lilly and Company by 2.1% in the 3rd quarter. Moran Wealth Management LLC now owns 8,827 shares of the company’s stock worth $7,820,000 after purchasing an additional 180 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup cut their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America restated 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. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company raised their price target 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. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.8 %

Eli Lilly and Company stock opened at $843.35 on Friday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company’s fifty day moving average price is $835.19 and its two-hundred day moving average price is $840.70. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $799.64 billion, a price-to-earnings ratio of 72.02, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.