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

Eli Lilly and Company (NYSE:LLY) updated its FY 2024 earnings guidance on Tuesday. 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TheStreet raised Eli Lilly and Company from a c+ rating to a b rating in a research note on Friday, March 8th. Truist Financial reissued a buy rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an overweight rating and issued a $815.00 price target on shares of Eli Lilly and Company in a research note on Monday, April 15th. DZ Bank cut Eli Lilly and Company from a buy rating to a hold rating and set a $820.00 price target for the company. in a research note on Wednesday, February 21st. Finally, Barclays boosted their price target on Eli Lilly and Company from $680.00 to $810.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $728.05.

Eli Lilly and Company Stock Up 0.5 %

Shares of LLY stock opened at $737.33 on Tuesday. Eli Lilly and Company has a 12 month low of $392.26 and a 12 month high of $800.78. The firm has a market cap of $700.58 billion, a PE ratio of 127.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34. The stock has a 50 day moving average of $760.89 and a 200-day moving average of $668.00. The company has a quick ratio of 0.73, a current ratio of 0.94 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 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $2.09 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities analysts predict that Eli Lilly and Company will post 12.51 EPS for the current year.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.