Soleus Capital Management L.P. Sells 7,642 Shares of Eli Lilly and Company (NYSE:LLY)

Soleus Capital Management L.P. cut its stake in Eli Lilly and Company (NYSE:LLY) by 39.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,658 shares of the company’s stock after selling 7,642 shares during the quarter. Soleus Capital Management L.P.’s holdings in Eli Lilly and Company were worth $9,000,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Knightsbridge Asset Management LLC increased its position in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock worth $628,000 after acquiring an additional 15 shares in the last quarter. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company in the 4th quarter worth $514,000. Kentucky Trust Co bought a new position in Eli Lilly and Company during the 4th quarter worth about $834,000. CSM Advisors LLC raised its stake in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after purchasing an additional 245 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 3.3%

Shares of Eli Lilly and Company stock opened at $757.23 on Monday. 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 business has a fifty day simple moving average of $797.84 and a two-hundred day simple moving average of $805.69. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a market capitalization of $717.65 billion, a price-to-earnings ratio of 64.67, a P/E/G ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 48.82%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,011.37.

Insider Buying and Selling

In other Eli Lilly and Company 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 completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

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.