Convergence Investment Partners LLC Has $906,000 Holdings in Eli Lilly and Company (NYSE:LLY)

Convergence Investment Partners LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,554 shares of the company’s stock after acquiring an additional 135 shares during the period. Convergence Investment Partners LLC’s holdings in Eli Lilly and Company were worth $906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $26,000. Thompson Investment Management Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at about $27,000. Legacy Financial Group LLC purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at about $35,000. Optiver Holding B.V. purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at about $36,000. Finally, Family CFO Inc purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LLY shares. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Citigroup raised their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three 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.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Price Performance

NYSE:LLY traded up $8.64 during trading hours on Friday, hitting $733.51. The stock had a trading volume of 2,009,249 shares, compared to its average volume of 2,265,427. The company has a 50 day simple moving average of $761.79 and a two-hundred day simple moving average of $666.67. The firm has a market capitalization of $696.95 billion, a price-to-earnings ratio of 126.47, a P/E/G ratio of 1.60 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. Eli Lilly and Company has a one year low of $380.77 and a one year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The firm 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 EPS. Research analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

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.