Leerink Partnrs Equities Analysts Reduce Earnings Estimates for Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) – Leerink Partnrs lowered their Q2 2024 earnings per share estimates for Eli Lilly and Company in a research note issued on Wednesday, May 1st. Leerink Partnrs analyst D. Risinger now expects that the company will earn $2.41 per share for the quarter, down from their previous estimate of $2.45. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.49 per share.

Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective (up previously from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Truist Financial increased 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 report on Wednesday. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target for the company. in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company increased their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

Eli Lilly and Company Price Performance

Shares of LLY opened at $734.97 on Thursday. The stock has a market cap of $698.52 billion, a PE ratio of 108.24, a P/E/G ratio of 1.57 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 0.73. Eli Lilly and Company has a 1-year low of $419.80 and a 1-year high of $800.78. The firm has a 50-day simple moving average of $761.75 and a two-hundred day simple moving average of $670.56.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis.

Institutional Trading of Eli Lilly and Company

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the period. Capital World Investors grew its holdings in shares of Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares during the last quarter. Morgan Stanley increased its position in Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after acquiring an additional 83,915 shares during the period. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Finally, Northern Trust Corp grew its stake in shares of Eli Lilly and Company by 3.6% in the 3rd quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after purchasing an additional 355,317 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.