Research Analysts Offer Predictions for Eli Lilly and Company’s Q2 2024 Earnings (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) – Analysts at Leerink Partnrs lowered their Q2 2024 earnings per share estimates for shares of Eli Lilly and Company in a research report issued to clients and investors on Wednesday, May 1st. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings per share of $2.41 for the quarter, down from their previous estimate of $2.45. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.49 per share.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% 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 prior year, the company earned $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the stock. Barclays increased their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Truist Financial boosted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a report on Wednesday, February 21st. Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $757.95.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $734.97 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.73 and a current ratio of 1.35. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78. The company’s 50 day moving average price is $761.75 and its two-hundred day moving average price is $670.56. The company has a market capitalization of $698.52 billion, a P/E ratio of 108.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.37.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently made changes to their positions in the business. Financial Management Network Inc. lifted its stake in shares of Eli Lilly and Company by 13.4% during the 3rd quarter. Financial Management Network Inc. now owns 828 shares of the company’s stock worth $440,000 after buying an additional 98 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Eli Lilly and Company by 3.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 242,558 shares of the company’s stock worth $130,285,000 after acquiring an additional 7,194 shares during the last quarter. 1834 Investment Advisors Co. boosted its holdings in shares of Eli Lilly and Company by 3.3% during the third quarter. 1834 Investment Advisors Co. now owns 4,704 shares of the company’s stock worth $2,526,000 after acquiring an additional 150 shares during the period. Simon Quick Advisors LLC grew its position in shares of Eli Lilly and Company by 41.4% in the third quarter. Simon Quick Advisors LLC now owns 2,649 shares of the company’s stock valued at $1,423,000 after purchasing an additional 775 shares during the last quarter. Finally, VeraBank N.A. grew its position in shares of Eli Lilly and Company by 1.9% in the third quarter. VeraBank N.A. now owns 3,747 shares of the company’s stock valued at $2,013,000 after purchasing an additional 70 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.