Q3 2024 Earnings Forecast for Eli Lilly and Company Issued By Leerink Partnrs (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) – Stock analysts at Leerink Partnrs lifted their Q3 2024 EPS estimates for shares of Eli Lilly and Company in a research note issued to investors on Wednesday, May 1st. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings of $3.75 per share for the quarter, up from their previous forecast of $3.35. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.49 per share. Leerink Partnrs also issued estimates for Eli Lilly and Company’s Q4 2024 earnings at $4.82 EPS, FY2024 earnings at $13.56 EPS, FY2025 earnings at $20.03 EPS, FY2026 earnings at $25.61 EPS, FY2027 earnings at $32.51 EPS and FY2028 earnings at $39.87 EPS.

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

Other equities analysts have also issued reports about the stock. Bank of America upped their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. Barclays boosted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group raised 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 research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $757.95.

Eli Lilly and Company Price Performance

LLY stock opened at $734.97 on Friday. Eli Lilly and Company has a 52-week low of $419.80 and a 52-week high of $800.78. The business has a fifty day moving average of $761.75 and a two-hundred day moving average of $670.56. The stock has a market cap of $698.52 billion, a price-to-earnings ratio of 108.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.37. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LLY. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $26,000. Core Wealth Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the period. Thompson Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. Activest Wealth Management purchased a new position in shares of Eli Lilly and Company during the first quarter worth approximately $39,000. Finally, Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $29,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.