Eli Lilly and Company (NYSE:LLY) Releases FY24 Earnings Guidance

Eli Lilly and Company (NYSE:LLYGet Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $12.20-12.70 for the period, compared to the consensus estimate of $12.39. The company issued revenue guidance of $40.4-41.6 billion, compared to the consensus revenue estimate of $39.27 billion. Eli Lilly and Company also updated its FY 2024 guidance to 12.200-12.700 EPS.

Eli Lilly and Company Stock Up 4.8 %

Shares of LLY stock opened at $740.00 on Tuesday. The firm’s 50-day moving average is $609.08 and its 200-day moving average is $574.36. The stock has a market cap of $702.49 billion, a price-to-earnings ratio of 127.87, a PEG ratio of 2.16 and a beta of 0.32. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05. Eli Lilly and Company has a 52-week low of $309.20 and a 52-week high of $740.00.

Eli Lilly and Company (NYSE:LLYGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share 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 return on equity of 48.12% and a net margin of 15.55%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 EPS. Sell-side analysts predict that Eli Lilly and Company will post 6.34 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Thursday, February 15th will be given a dividend of $1.30 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.20 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 94.20%.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an overweight rating and issued a $630.00 price target on shares of Eli Lilly and Company in a research report on Thursday, February 1st. Citigroup lifted their price objective on shares of Eli Lilly and Company from $525.00 to $675.00 and gave the company a buy rating in a research note on Monday, October 23rd. TheStreet lowered Eli Lilly and Company from a b rating to a c+ rating in a research note on Monday, December 4th. Morgan Stanley upped their price objective on Eli Lilly and Company from $727.00 to $822.00 and gave the stock an overweight rating in a research report on Tuesday, December 19th. Finally, Truist Financial restated a buy rating and issued a $650.00 price target on shares of Eli Lilly and Company in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $589.90.

View Our Latest Report on Eli Lilly and Company

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the transaction, the insider now owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 195,055 shares of company stock worth $125,254,657. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Retirement Group LLC grew its stake in Eli Lilly and Company by 159.1% during the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $33,000. Neo Ivy Capital Management bought a new position in shares of Eli Lilly and Company in the second quarter worth $79,000. KB Financial Partners LLC raised its position in shares of Eli Lilly and Company by 216.1% in the second quarter. KB Financial Partners LLC now owns 177 shares of the company’s stock worth $83,000 after buying an additional 121 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in Eli Lilly and Company during the second quarter valued at $128,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

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.

Further Reading

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

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