Eli Lilly and Company (NYSE:LLY) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 49.5% during the fourth quarter, Holdings Channel reports. The firm owned 29,330 shares of the company’s stock after selling 28,714 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Eli Lilly and Company were worth $22,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors 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 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the period. Centerpoint Advisory Group acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $514,000. M&T Bank Corp increased its holdings in shares of 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 acquiring an additional 1,867 shares during the period. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $834,000. Finally, Cooper Financial Group increased its holdings in shares of Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $798.39 on Friday. The firm has a market capitalization of $757.01 billion, a P/E ratio of 68.18, a PEG ratio of 1.40 and a beta of 0.34. 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 is $830.18 and its two-hundred day moving average is $844.96. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 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%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on LLY. 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 report on Tuesday, January 28th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and 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.