Eli Lilly and Company (NYSE:LLY) Issues Earnings Results, Beats Estimates By $0.19 EPS

Eli Lilly and Company (NYSE:LLYGet Free Report) issued its quarterly earnings results on Tuesday. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19, RTT News reports. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. The firm had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the firm earned $2.09 EPS. The business’s revenue was up 28.1% on a year-over-year basis. Eli Lilly and Company updated its FY 2024 guidance to 12.200-12.700 EPS and its FY24 guidance to $12.20-12.70 EPS.

Eli Lilly and Company Trading Up 5.7 %

Eli Lilly and Company stock opened at $705.86 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59. The business’s fifty day simple moving average is $609.08 and its two-hundred day simple moving average is $574.36. Eli Lilly and Company has a 12 month low of $309.20 and a 12 month high of $711.88. The company has a market capitalization of $670.08 billion, a price-to-earnings ratio of 127.87, a price-to-earnings-growth ratio of 2.16 and a beta of 0.32.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Thursday, February 15th will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.13. This represents a $5.20 annualized dividend and a dividend yield of 0.74%. Eli Lilly and Company’s payout ratio is currently 94.20%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 195,055 shares of company stock valued at $125,254,657. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley increased its position in Eli Lilly and Company by 44.1% in the fourth quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after buying an additional 3,691,436 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $3,416,206,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Eli Lilly and Company by 102,752.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after acquiring an additional 5,440,731 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Eli Lilly and Company by 4.0% in the second quarter. Alliancebernstein L.P. now owns 4,734,228 shares of the company’s stock worth $2,220,258,000 after acquiring an additional 180,714 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Eli Lilly and Company by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,869,274 shares of the company’s stock worth $1,108,044,000 after acquiring an additional 83,299 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent research reports. UBS Group restated a “buy” rating and issued a $710.00 price objective (up previously from $612.00) on shares of Eli Lilly and Company in a research note on Friday, October 20th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Wednesday, November 8th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. Morgan Stanley raised their target price on shares of Eli Lilly and Company from $727.00 to $822.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. Finally, Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $650.00 to $700.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $589.90.

View Our Latest Stock Analysis on LLY

About Eli Lilly and Company

(Get Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

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Earnings History for Eli Lilly and Company (NYSE:LLY)

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