Eli Lilly and Company (NYSE:LLY) Trading Up 1% Following Better-Than-Expected Earnings

Eli Lilly and Company (NYSE:LLY) was up 1% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $775.00 and last traded at $774.21. Approximately 894,212 shares changed hands during trading, a decline of 71% from the average daily volume of 3,064,333 shares. The stock had previously closed at $766.68.

The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS.

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 dividend payout ratio (DPR) is presently 76.58%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. Bank of America boosted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. BMO Capital Markets boosted their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Truist Financial upped their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

Institutional Trading of Eli Lilly and Company

Several large investors have recently modified their holdings of LLY. Lipe & Dalton bought a new position in shares of Eli Lilly and Company during the 4th quarter worth about $26,000. Thompson Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.4 %

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock’s 50 day simple moving average is $761.22 and its 200 day simple moving average is $674.88. The firm has a market cap of $736.56 billion, a P/E ratio of 114.14, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37.

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.