Eli Lilly and Company (NYSE:LLY) Trading Up 2.6% After Earnings Beat

Eli Lilly and Company (NYSE:LLY) shares were up 2.6% during trading on Monday following a better than expected earnings announcement. The stock traded as high as $754.42 and last traded at $754.36. Approximately 950,304 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 3,061,418 shares. The stock had previously closed at $734.97.

The company reported $2.58 earnings per share 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 for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Wall Street Analyst Weigh In

LLY has been the topic of several recent analyst reports. The Goldman Sachs Group increased 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 report on Thursday, April 11th. Barclays raised their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Bank of America upped their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Morgan Stanley lifted their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $757.95.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its stake in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares in the last quarter. Twin Peaks Wealth Advisors LLC raised its holdings in Eli Lilly and Company by 2.0% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock valued at $559,000 after acquiring an additional 14 shares during the period. Pitti Group Wealth Management LLC raised its holdings in Eli Lilly and Company by 0.8% during the first quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock valued at $1,271,000 after acquiring an additional 14 shares during the period. Ulland Investment Advisors LLC boosted its stake in shares of Eli Lilly and Company by 7.0% in the first quarter. Ulland Investment Advisors LLC now owns 214 shares of the company’s stock worth $166,000 after acquiring an additional 14 shares during the period. Finally, Moseley Investment Management Inc. grew its position in shares of Eli Lilly and Company by 0.4% during the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after purchasing an additional 14 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The company has a market cap of $739.20 billion, a P/E ratio of 114.55, a P/E/G ratio of 1.45 and a beta of 0.37. The firm has a 50 day moving average of $761.22 and a 200-day moving average of $674.88.

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.