Eli Lilly and Company (NYSE:LLY) to Post Q2 2024 Earnings of $2.41 Per Share, Leerink Partnrs Forecasts

Eli Lilly and Company (NYSE:LLY) – Stock analysts at Leerink Partnrs reduced their Q2 2024 earnings per share (EPS) estimates for shares of Eli Lilly and Company in a research report issued on Wednesday, May 1st. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings of $2.41 per share for the quarter, down from their previous forecast of $2.45. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.50 per share.

Several other equities research analysts have also recently issued reports on LLY. Morgan Stanley lifted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Truist Financial boosted their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research report on Wednesday. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $757.95.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $776.75 on Thursday. The stock has a market capitalization of $738.04 billion, a P/E ratio of 114.40, a PEG ratio of 1.58 and a beta of 0.37. The business has a 50 day simple moving average of $762.03 and a two-hundred day simple moving average of $669.96. Eli Lilly and Company has a 12 month low of $399.26 and a 12 month high of $800.78. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, April 30th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 59.28%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LLY. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company in the third quarter worth approximately $27,000. Tidemark LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares in the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $35,000. 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.