Eli Lilly and Company Expected to Earn Q2 2024 Earnings of $2.41 Per Share (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) – Leerink Partnrs lowered their Q2 2024 earnings per share (EPS) estimates for Eli Lilly and Company in a research report issued on Wednesday, May 1st. Leerink Partnrs analyst D. Risinger now expects that the company will post earnings per share of $2.41 for the quarter, down from their prior forecast of $2.45. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.50 per share.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 59.28% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis.

Other analysts also recently issued reports about the company. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Bank of America upped their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Citigroup lifted their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Truist Financial lifted their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $776.75 on Thursday. The company has a market cap of $738.04 billion, a P/E ratio of 114.40, a P/E/G ratio of 1.58 and a beta of 0.37. The firm’s fifty day moving average price is $762.03 and its two-hundred day moving average price is $669.96. Eli Lilly and Company has a one year low of $399.26 and a one year high of $800.78. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after acquiring an additional 13 shares in the last quarter. Twin Peaks Wealth Advisors LLC grew its position in shares of Eli Lilly and Company by 2.0% during the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock valued at $559,000 after acquiring an additional 14 shares during the period. Pitti Group Wealth Management LLC grew its holdings in Eli Lilly and Company by 0.8% during the first quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock valued at $1,271,000 after purchasing an additional 14 shares during the period. Ulland Investment Advisors LLC increased its position in Eli Lilly and Company by 7.0% in the first quarter. Ulland Investment Advisors LLC now owns 214 shares of the company’s stock worth $166,000 after buying an additional 14 shares during the last quarter. Finally, Moseley Investment Management Inc. increased its position in Eli Lilly and Company by 0.4% in the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after buying an additional 14 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.