Q2 2024 EPS Estimates for Eli Lilly and Company Reduced by Analyst (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 post earnings per share of $2.41 for the quarter, down from their prior estimate 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 issued its earnings results on Tuesday, April 30th. The company reported $2.58 EPS 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 company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. Eli Lilly and Company’s quarterly revenue was up 26.0% compared to the same quarter last year.

A number of other equities analysts also recently commented on LLY. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target (up previously from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. Bank of America lifted their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Morgan Stanley lifted their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Three equities research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $755.91 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The business has a 50 day moving average of $761.75 and a two-hundred day moving average of $670.56. Eli Lilly and Company has a 52 week low of $414.31 and a 52 week high of $800.78. The company has a market cap of $718.24 billion, a P/E ratio of 111.33, a PEG ratio of 1.58 and a beta of 0.37.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lipe & Dalton bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at $26,000. Core Wealth Advisors Inc. grew its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter worth approximately $27,000. Activest Wealth Management purchased a new position in Eli Lilly and Company during the 1st quarter worth approximately $39,000. Finally, Tidemark LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $29,000. Institutional investors own 82.53% of the company’s stock.

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.