Eli Lilly and Company (NYSE:LLY) Expected to Earn FY2024 Earnings of $12.10 Per Share

Eli Lilly and Company (NYSE:LLY) – Equities research analysts at Cantor Fitzgerald cut their FY2024 EPS estimates for Eli Lilly and Company in a report released on Tuesday, April 9th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will earn $12.10 per share for the year, down from their prior estimate of $12.20. Cantor Fitzgerald has a “Overweight” rating and a $815.00 price objective on the stock. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $12.47 per share.

Several other equities analysts have also weighed in on LLY. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Barclays upped their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Finally, The Goldman Sachs Group upped 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. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $751.62 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $714.16 billion, a P/E ratio of 129.59, a price-to-earnings-growth ratio of 1.67 and a beta of 0.34. The firm’s fifty day simple moving average is $761.77 and its two-hundred day simple moving average is $652.63. Eli Lilly and Company has a 12 month low of $367.35 and a 12 month high of $800.78.

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

Insider Activity at Eli Lilly and Company

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

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its stake 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 buying an additional 13 shares during the period. Moseley Investment Management Inc. raised its stake in shares of Eli Lilly and Company by 0.4% during the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the period. CGN Advisors LLC raised its stake in shares of Eli Lilly and Company by 1.4% during the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares during the period. Buckhead Capital Management LLC raised its stake in shares of Eli Lilly and Company by 0.7% during the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares during the period. Finally, Levin Capital Strategies L.P. raised its stake in shares of Eli Lilly and Company by 3.8% during the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares during the period. 82.53% of the stock is currently owned by 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.