Eli Lilly and Company (NYSE:LLY) Trading 2.6% Higher on Earnings Beat

Eli Lilly and Company (NYSE:LLY)’s stock price shot up 2.6% on Monday after the company announced better than expected quarterly earnings. The company traded as high as $754.42 and last traded at $754.36. 950,304 shares traded hands during trading, a decline of 69% from the average session volume of 3,061,418 shares. The stock had previously closed at $734.97.

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

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.68%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Citigroup boosted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, DZ Bank downgraded shares of 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 report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $757.95.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Baystate Wealth Management LLC grew its position in Eli Lilly and Company by 26.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 953 shares of the company’s stock worth $512,000 after acquiring an additional 197 shares during the last quarter. North Point Portfolio Managers Corp OH lifted its holdings in Eli Lilly and Company by 13.4% during the 3rd quarter. North Point Portfolio Managers Corp OH now owns 525 shares of the company’s stock worth $282,000 after buying an additional 62 shares in the last quarter. IFM Investors Pty Ltd boosted its position in Eli Lilly and Company by 3.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 164,045 shares of the company’s stock valued at $88,113,000 after buying an additional 4,790 shares during the last quarter. High Note Wealth LLC increased its position in Eli Lilly and Company by 4.7% in the third quarter. High Note Wealth LLC now owns 4,021 shares of the company’s stock worth $2,160,000 after purchasing an additional 181 shares during the period. Finally, Waldron Private Wealth LLC boosted its stake in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. Waldron Private Wealth LLC now owns 13,838 shares of the company’s stock valued at $7,433,000 after purchasing an additional 95 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

The firm’s 50-day moving average price is $760.96 and its 200 day moving average price is $673.52. 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 company has a market cap of $728.72 billion, a price-to-earnings ratio of 112.92, a PEG 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.