FY2024 Earnings Estimate for Eli Lilly and Company (NYSE:LLY) Issued By Cantor Fitzgerald

Eli Lilly and Company (NYSE:LLY) – Investment analysts at Cantor Fitzgerald reduced their FY2024 earnings estimates for Eli Lilly and Company in a research report issued to clients and investors on Tuesday, April 9th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings per share of $12.10 for the year, down from their prior estimate of $12.20. Cantor Fitzgerald currently has a “Overweight” rating and a $815.00 price target on the stock. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $12.45 per share.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The company’s revenue for the quarter was up 28.1% on a year-over-year basis.

Several other equities analysts also recently commented on LLY. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a report on Wednesday, February 21st. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Morgan Stanley boosted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. The Goldman Sachs Group boosted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Truist Financial restated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $751.64 on Friday. Eli Lilly and Company has a 1-year low of $367.35 and a 1-year high of $800.78. The firm’s 50 day simple moving average is $761.77 and its two-hundred day simple moving average is $653.35. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The company has a market capitalization of $714.18 billion, a P/E ratio of 129.59, a P/E/G ratio of 1.67 and a beta of 0.34.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hoxton Planning & Management LLC increased its stake in Eli Lilly and Company by 5.4% during the first quarter. Hoxton Planning & Management LLC now owns 1,128 shares of the company’s stock worth $878,000 after purchasing an additional 58 shares during the period. Sarasin & Partners LLP raised its stake in shares of Eli Lilly and Company by 11.4% during the first quarter. Sarasin & Partners LLP now owns 275,824 shares of the company’s stock worth $214,580,000 after purchasing an additional 28,335 shares during the last quarter. Evanson Asset Management LLC raised its stake in shares of Eli Lilly and Company by 5.3% during the first quarter. Evanson Asset Management LLC now owns 1,347 shares of the company’s stock worth $1,048,000 after purchasing an additional 68 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Eli Lilly and Company by 2.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 15,381 shares of the company’s stock worth $11,966,000 after purchasing an additional 417 shares during the last quarter. Finally, Fermata Advisors LLC raised its stake in shares of Eli Lilly and Company by 27.8% during the first quarter. Fermata Advisors LLC now owns 1,113 shares of the company’s stock worth $866,000 after purchasing an additional 242 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 54,032 shares of Eli Lilly and Company stock in a transaction on Monday, January 29th. The shares were sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following the sale, the insider now owns 99,488,598 shares of the company’s stock, valued at approximately $64,177,109,911.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 133,785 shares of company stock valued at $86,537,034. 0.13% of the stock is owned by company insiders.

About Eli Lilly and Company

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.