Holder Move: As Eli Lilly & Co (LLY) Market Valuation Rose, Sectoral Asset Management INC Has Raised Its Holding by $6.20 Million

Holder Move: As Eli Lilly & Co (LLY) Market Valuation Rose, Sectoral Asset Management INC Has Raised Its Holding by $6.20 Million

Jerome Pfund increased its stake in Eli Lilly & Co (LLY) by 14.63% based on its latest 2016Q3 regulatory filing with the SEC. Sectoral Asset Management Inc bought 77,519 shares as the company’s stock rose 1.66% with the market. The hedge fund run by Jerome Pfund held 607,427 shares of the major pharmaceuticals company at the end of 2016Q3, valued at $48.75M, up from 529,908 at the end of the previous reported quarter. Sectoral Asset Management Inc who had been investing in Eli Lilly & Co for a number of months, seems to be bullish on the $84.78 billion market cap company. The stock is up 0.69% or $0.53 after the positive news, hitting $76.8 per share. About 909,798 shares traded hands. Eli Lilly and Co (NYSE:LLY) has risen 2.10% since June 7, 2016 and is uptrending. It has underperformed by 5.32% the S&P500.

Sectoral Asset Management Inc, which manages about $3.30B and $1.02B US Long portfolio, decreased its stake in Teva Pharmaceutical (NYSE:TEVA) by 161,763 shares to 454,172 shares, valued at $20.90 million in 2016Q3, according to the filing. It also reduced its holding in Abiomed Inc (NASDAQ:ABMD) by 44,593 shares in the quarter, leaving it with 253,745 shares, and cut its stake in Nxstage Medical (NASDAQ:NXTM).

Founded in 2000, Sectoral Asset Management has as managers Michael Sjostrom and Jerome fund. The firm’s main focus is in the healthcare sector. Sectoral is involved in the domain of health management, genome, biotech, and is not afraid to get involved in emerging markets or small caps. Sectoral Asset Management Inc is a Quebec, Canada-based hedge fund that was founded by Jerome Pfund And Michael Sjostrom. It had more than $3.30 billion assets under management in November, 2014. Taken from Sectoral Asset Management latest Adv, the fund reported to have 22 full and part-time employees. Among which 12 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

Insitutional Activity: The institutional sentiment increased to 1.08 in Q3 2016. Its up 0.01, from 1.07 in 2016Q2. The ratio increased, as 57 funds sold all LLY shares owned while 356 reduced positions. 91 funds bought stakes while 357 increased positions. They now own 805.63 million shares or 1.15% less from 814.98 million shares in 2016Q2. Ent Finance Svcs holds 2,150 shares or 0.1% of its portfolio. Amica Mutual accumulated 57,305 shares or 0.43% of the stock. Connors Investor holds 57,562 shares or 0.81% of its portfolio. Columbia Asset Management, a Michigan-based fund reported 5,660 shares. Peapack Gladstone Financial Corporation holds 0% or 53,545 shares in its portfolio. Moreover, Doheny Asset Management Ca has 0.12% invested in Eli Lilly and Co (NYSE:LLY) for 2,850 shares. British Columbia Inv Mngmt holds 0.3% of its portfolio in Eli Lilly and Co (NYSE:LLY) for 375,223 shares. Hartford Fincl has invested 0.02% of its portfolio in Eli Lilly and Co (NYSE:LLY). Tower Bridge Advsrs has 0% invested in the company for 3,101 shares. Polaris Greystone Fincl Group Ltd Liability Company has 0.05% invested in the company for 5,222 shares. Argentus Management Limited Liability Company owns 473 shares or 0.01% of their US portfolio. Chesley Taft Associate Ltd Liability Corp last reported 0.04% of its portfolio in the stock. Regions, a Alabama-based fund reported 507,219 shares. Sumitomo Mitsui Tru Holding Incorporated holds 0.38% or 2.89 million shares in its portfolio. Iberiabank holds 0.09% or 2,530 shares in its portfolio.

Insider Transactions: Since July 12, 2016, the stock had 3 insider buys, and 8 selling transactions for $53.07 million net activity. Mahony Susan also sold $1.47M worth of Eli Lilly and Co (NYSE:LLY) shares. $72,130 worth of Eli Lilly and Co (NYSE:LLY) was sold by Zakrowski Donald A. LILLY ENDOWMENT INC had sold 200,000 shares worth $14.52M. $99,880 worth of Eli Lilly and Co (NYSE:LLY) shares were bought by TAI JACKSON P. On Tuesday, October 4 Crowe Maria A sold $182,927 worth of the stock or 2,248 shares. HOOVER R DAVID bought $35,925 worth of Eli Lilly and Co (NYSE:LLY) on Friday, December 16. 2,093 Eli Lilly and Co (NYSE:LLY) shares with value of $172,107 were sold by Barnes Melissa S.

More notable recent Eli Lilly and Co (NYSE:LLY) news were published by: Streetinsider.com which released: “Eli Lilly & Co. (LLY) Expands Immuno-Oncology Collaboration with Merck (MRK)” on January 11, 2017, also Fool.com with their article: “Better Buy: Eli Lilly and Company vs. AbbVie” published on December 09, 2016, Fool.com published: “Better Buy: Eli Lilly and Co vs. Pfizer” on October 26, 2016. More interesting news about Eli Lilly and Co (NYSE:LLY) were released by: Streetinsider.com and their article: “Eli Lilly & Co. (LLY) Announces BASAGLAR Insulin Now Available in U.S.” published on December 15, 2016 as well as Streetinsider.com‘s news article titled: “Eli Lilly & Co. (LLY) Announces Discounted Insulin Starting January 1st” with publication date: December 13, 2016.

According to Zacks Investment Research, “Eli Lilly and Company discovers, develops, manufactures, and sells products in one significant business segment -pharmaceutical products. The company directs its research efforts primarily toward the search for products to diagnose, prevent and treat human diseases. The company also conducts research to find products to treat diseases in animals and to increase the efficiency of animal food production.”

Eli Lilly and Co (NYSE:LLY) Ratings Coverage

Out of 16 analysts covering Eli Lilly and Company (NYSE:LLY), 13 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 81% are positive. Eli Lilly and Company has been the topic of 43 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Deutsche Bank given on Monday, December 7. Bank of America maintained the stock with “Buy” rating in Friday, September 18 report. The rating was downgraded by Atlantic Securities to “Neutral” on Friday, November 25. Cowen & Co maintained Eli Lilly and Co (NYSE:LLY) rating on Saturday, August 22. Cowen & Co has “Outperform” rating and $92 price target. Jefferies maintained Eli Lilly and Co (NYSE:LLY) on Friday, September 18 with “Buy” rating. The stock of Eli Lilly and Co (NYSE:LLY) earned “Outperform” rating by Leerink Swann on Thursday, November 12. The stock has “Outperform” rating given by BMO Capital Markets on Monday, November 16. On Friday, October 9 the stock rating was upgraded by Credit Suisse to “Outperform”. The company was upgraded on Thursday, September 8 by JP Morgan. The firm has “Buy” rating by Argus Research given on Tuesday, August 2.

LLY Company Profile

Eli Lilly and Company, incorporated on January 17, 1901, is engaged in drug manufacturing business. The Firm discovers, develops, makes and markets products in two divisions: human pharmaceutical products and animal health products. The Company’s products are sold in over 120 countries. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists. The Company’s animal health business segment operates through the Company’s Elanco division, which develops, makes and markets products for both food animals and companion animals. The Firm makes and distributes its products through facilities in the United States, Puerto Rico and over 10 other countries.

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