Eli Lilly and (NYSE:LLY) Posts Quarterly Earnings Results, Misses Estimates By $0.61 EPS

Eli Lilly and (NYSE:LLY – Get Rating) issued its quarterly earnings results on Thursday. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.61), Briefing.com reports. Eli Lilly and had a return on equity of 97.58% and a net margin of 20.90%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Eli Lilly and updated its FY 2022 guidance to $7.90-$8.05 EPS.

Eli Lilly and Stock Performance

Shares of Eli Lilly and stock traded down $4.47 during trading hours on Friday, hitting $301.32. 2,805,792 shares of the company’s stock traded hands, compared to its average volume of 2,923,813. Eli Lilly and has a 12-month low of $220.20 and a 12-month high of $335.33. The stock has a market capitalization of $286.30 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.22 and a beta of 0.35. The company has a fifty day simple moving average of $316.10 and a 200-day simple moving average of $289.01. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.27 and a quick ratio of 0.98.

Eli Lilly and Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, August 12th. Eli Lilly and’s dividend payout ratio is presently 58.07%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 80,761 shares of Eli Lilly and stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $302.53, for a total value of $24,432,625.33. Following the completion of the sale, the insider now owns 105,493,049 shares of the company’s stock, valued at approximately $31,914,812,113.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 80,761 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $302.53, for a total value of $24,432,625.33. Following the completion of the transaction, the insider now owns 105,493,049 shares in the company, valued at approximately $31,914,812,113.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $313.44, for a total value of $313,440.00. Following the completion of the transaction, the chief accounting officer now owns 6,274 shares of the company’s stock, valued at approximately $1,966,522.56. The disclosure for this sale can be found here. Insiders sold a total of 1,195,396 shares of company stock valued at $380,134,601 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and

Large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Eli Lilly and by 54.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,311,713 shares of the company’s stock valued at $948,375,000 after buying an additional 1,172,504 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Eli Lilly and by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,869,274 shares of the company’s stock valued at $1,108,044,000 after buying an additional 83,299 shares in the last quarter. Worldquant Millennium Advisors LLC increased its stake in Eli Lilly and by 587.1% in the 1st quarter. Worldquant Millennium Advisors LLC now owns 64,860 shares of the company’s stock worth $18,574,000 after purchasing an additional 55,421 shares during the period. Sculptor Capital LP increased its stake in Eli Lilly and by 61.1% in the 1st quarter. Sculptor Capital LP now owns 144,343 shares of the company’s stock worth $41,336,000 after purchasing an additional 54,722 shares during the period. Finally, Edgestream Partners L.P. increased its stake in Eli Lilly and by 399.9% in the 1st quarter. Edgestream Partners L.P. now owns 24,486 shares of the company’s stock worth $7,012,000 after purchasing an additional 19,588 shares during the period. Institutional investors own 82.75% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Eli Lilly and from $369.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, July 8th. UBS Group raised their price objective on Eli Lilly and to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. The Goldman Sachs Group raised their price target on Eli Lilly and from $234.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, April 12th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and from $340.00 to $355.00 in a research report on Wednesday, June 1st. Finally, Wells Fargo & Company upped their price objective on shares of Eli Lilly and from $280.00 to $305.00 in a report on Friday, April 29th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.06.

Eli Lilly and Company Profile

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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.