Boussard & Gavaudan Investment Management LLP Invests $38.69 Million in Eli Lilly and Company (NYSE:LLY)

Boussard & Gavaudan Investment Management LLP bought a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, HoldingsChannel reports. The fund bought 50,000 shares of the company’s stock, valued at approximately $38,692,000. Eli Lilly and Company accounts for 3.2% of Boussard & Gavaudan Investment Management LLP’s portfolio, making the stock its 9th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its holdings in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares during the period. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company in the 4th quarter valued at $514,000. M&T Bank Corp increased its stake in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after buying an additional 1,867 shares during the period. Kentucky Trust Co purchased a new position in Eli Lilly and Company during the 4th quarter worth $834,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after acquiring an additional 1,562 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.6 %

Shares of LLY stock opened at $822.14 on Friday. The company has a market capitalization of $779.52 billion, a price-to-earnings ratio of 70.21, a PEG ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average price of $842.43 and a 200 day moving average price of $837.43. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. Research analysts forecast 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 has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following 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 trade represents 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 available at the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Citigroup cut their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research note on Thursday, March 6th. Wells Fargo & Company upped their price objective on 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, Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

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.