Eli Lilly and Company (NYSE:LLY) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Eli Lilly and Company (NYSE:LLYGet Free Report) released its quarterly earnings results on Tuesday. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19, MarketWatch Earnings reports. The firm had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a return on equity of 48.12% and a net margin of 15.55%. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. Eli Lilly and Company updated its FY 2024 guidance to 12.200-12.700 EPS and its FY24 guidance to $12.20-12.70 EPS.

Eli Lilly and Company Trading Down 0.2 %

Shares of NYSE LLY opened at $705.01 on Wednesday. The business’s 50 day moving average is $611.35 and its two-hundred day moving average is $576.08. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.05 and a quick ratio of 0.82. Eli Lilly and Company has a 1-year low of $309.20 and a 1-year high of $742.00. The stock has a market capitalization of $669.27 billion, a P/E ratio of 127.72, a PEG ratio of 2.29 and a beta of 0.32.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Thursday, February 15th will be paid a dividend of $1.30 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.13. This represents a $5.20 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, February 14th. Eli Lilly and Company’s payout ratio is presently 81.88%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $645.60, for a total transaction of $761,808.00. Following the sale, the insider now directly owns 99,542,630 shares of the company’s stock, valued at $64,264,721,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 195,055 shares of company stock valued at $125,254,657 over the last ninety days. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Wambolt & Associates LLC boosted its position in shares of Eli Lilly and Company by 1.9% during the second quarter. Wambolt & Associates LLC now owns 1,375 shares of the company’s stock valued at $645,000 after buying an additional 25 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Eli Lilly and Company by 0.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 4,331 shares of the company’s stock valued at $1,487,000 after buying an additional 25 shares during the period. Tradewinds LLC. boosted its position in shares of Eli Lilly and Company by 0.7% during the second quarter. Tradewinds LLC. now owns 4,589 shares of the company’s stock valued at $2,152,000 after buying an additional 31 shares during the period. Smith Anglin Financial LLC boosted its holdings in shares of Eli Lilly and Company by 5.4% in the fourth quarter. Smith Anglin Financial LLC now owns 662 shares of the company’s stock valued at $242,000 after purchasing an additional 34 shares during the period. Finally, Retirement Group LLC boosted its holdings in shares of Eli Lilly and Company by 159.1% in the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and set a $650.00 target price on shares of Eli Lilly and Company in a research report on Wednesday, November 29th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Wednesday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Eli Lilly and Company in a research report on Thursday, November 9th. They set a “hold” rating and a $535.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $630.00 target price on shares of Eli Lilly and Company in a research report on Thursday, February 1st. Finally, UBS Group reiterated a “buy” rating and set a $710.00 target price (up from $612.00) on shares of Eli Lilly and Company in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $595.86.

View Our Latest Analysis on Eli Lilly and Company

About Eli Lilly and Company

(Get Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

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Earnings History for Eli Lilly and Company (NYSE:LLY)

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