Eli Lilly and Company to Post Q1 2024 Earnings of $2.34 Per Share, Leerink Partnrs Forecasts (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) – Stock analysts at Leerink Partnrs reduced their Q1 2024 EPS estimates for shares of Eli Lilly and Company in a research note issued to investors on Friday, April 12th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings of $2.34 per share for the quarter, down from their previous forecast of $2.37. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $12.46 per share. Leerink Partnrs also issued estimates for Eli Lilly and Company’s Q2 2024 earnings at $2.45 EPS, Q3 2024 earnings at $3.35 EPS and Q4 2024 earnings at $4.06 EPS.

Several other equities research analysts also recently weighed in on LLY. Truist Financial reaffirmed a “buy” rating and set a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target for the company. in a report on Wednesday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $815.00 price target on shares of Eli Lilly and Company in a report on Monday. BMO Capital Markets increased their price target on Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Price Performance

LLY stock opened at $746.56 on Monday. The company has a market capitalization of $709.35 billion, a P/E ratio of 128.72, a PEG ratio of 1.65 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $367.35 and a twelve month high of $800.78. The business has a 50 day simple moving average of $763.51 and a 200-day simple moving average of $657.01. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds have recently modified their holdings of LLY. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Eli Lilly and Company by 102,752.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after purchasing an additional 5,440,731 shares during the last quarter. Morgan Stanley increased its holdings in Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after purchasing an additional 3,691,436 shares during the last quarter. Finally, Imprint Wealth LLC increased its holdings in Eli Lilly and Company by 53,716.8% during the 2nd quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock worth $175,120,000 after purchasing an additional 1,747,946 shares during the last quarter. 82.53% of the stock is currently 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.