Eli Lilly and Company (LLY) to Release Quarterly Earnings on Thursday

Posted by Defense World Staff on Oct 26th, 2023

Eli Lilly and Company logo Eli Lilly and Company (NYSE:LLY – Get Free Report) will announce its earnings results before the market opens on Thursday, November 2nd. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Eli Lilly and Company has set its FY23 guidance at $9.20-$9.40 EPS and its FY 2023 guidance at $9.70-$9.90 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.13. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $7.58 billion. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. On average, analysts expect Eli Lilly and Company to post $7 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Eli Lilly and Company Trading Down 1.0 %

NYSE LLY opened at $586.37 on Thursday. The company’s 50-day moving average price is $567.91 and its 200-day moving average price is $485.03. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 1.63. The stock has a market cap of $556.64 billion, a PE ratio of 81.55, a PEG ratio of 3.40 and a beta of 0.33. Eli Lilly and Company has a 12 month low of $309.20 and a 12 month high of $629.97.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $546.51, for a total transaction of $327,906.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,378 shares of the company’s stock, valued at approximately $2,939,130.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Lilly Endowment Inc sold 204,409 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $523.74, for a total transaction of $107,057,169.66. Following the sale, the insider now owns 100,823,810 shares of the company’s stock, valued at approximately $52,805,462,249.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 600 shares of Eli Lilly and Company stock in a transaction on Monday, August 21st. The shares were sold at an average price of $546.51, for a total transaction of $327,906.00. Following the completion of the sale, the chief accounting officer now directly owns 5,378 shares in the company, valued at approximately $2,939,130.78. The disclosure for this sale can be found here. Insiders sold 907,655 shares of company stock valued at $21,078,714,805 in the last three months. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Morgan Stanley raised its holdings in shares of Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after acquiring an additional 3,691,436 shares during the period. Norges Bank purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $3,416,206,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Eli Lilly and Company by 102,752.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after acquiring an additional 5,440,731 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Eli Lilly and Company by 4.0% during the 2nd quarter. Alliancebernstein L.P. now owns 4,734,228 shares of the company’s stock worth $2,220,258,000 after acquiring an additional 180,714 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Eli Lilly and Company by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,869,274 shares of the company’s stock worth $1,108,044,000 after acquiring an additional 83,299 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LLY. UBS Group restated a “buy” rating and issued a $710.00 price target (up from $612.00) on shares of Eli Lilly and Company in a report on Friday, October 20th. The Goldman Sachs Group upped their price target on shares of Eli Lilly and Company from $385.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $565.00 to $633.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Eli Lilly and Company from $510.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Finally, Barclays increased their target price on shares of Eli Lilly and Company from $500.00 to $590.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $555.83.

Check Out Our Latest Research Report on LLY

About Eli Lilly and Company

(Get Free Report)

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.