Eli Lilly and Company (NYSE:LLY) Updates FY 2024 Earnings Guidance

Eli Lilly and Company (NYSE:LLY) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 13.500-14.000 for the period, compared to the consensus earnings per share estimate of 12.500. The company issued revenue guidance of $42.4 billion-$43.6 billion, compared to the consensus revenue estimate of $41.4 billion.

Eli Lilly and Company Stock Up 4.4 %

Shares of LLY stock traded up $32.60 during trading hours on Tuesday, reaching $769.80. The company had a trading volume of 4,655,903 shares, compared to its average volume of 3,036,286. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. Eli Lilly and Company has a twelve month low of $392.26 and a twelve month high of $800.78. The company has a market capitalization of $731.43 billion, a P/E ratio of 134.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34. The stock’s fifty day simple moving average is $760.89 and its 200 day simple moving average is $668.00.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The company had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the firm earned $2.09 EPS. The business’s revenue was up 28.1% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an overweight rating and set a $815.00 price target on shares of Eli Lilly and Company in a research report on Monday, April 15th. Barclays boosted their target price on 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. Bank of America upped their price target 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. The Goldman Sachs Group upped their price target on 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. Finally, Wells Fargo & Company upped their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $728.05.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’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 completion of the transaction, the insider now owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.