Eli Lilly and Company (NYSE:LLY) Shares Up 3.5% on Better-Than-Expected Earnings

Shares of Eli Lilly and Company (NYSE:LLY) were up 3.5% on Thursday following a better than expected earnings announcement. The company traded as high as $853.00 and last traded at $842.2780. Approximately 6,013,329 shares traded hands during trading, an increase of 50% from the average daily volume of 4,012,001 shares. The stock had previously closed at $813.53.

The company reported $7.02 EPS for the quarter, topping the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. Eli Lilly and Company’s payout ratio is 39.22%.

Analyst Ratings Changes

Several equities analysts have recently commented on LLY shares. Wall Street Zen downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 20th. HSBC boosted their target price on shares of Eli Lilly and Company from $700.00 to $800.00 in a report on Wednesday, October 1st. Leerink Partners reissued a “market perform” rating and issued a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, Morgan Stanley decreased their price target on shares of Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $936.47.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Daniel Skovronsky purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the purchase, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gabrielle Sulzberger purchased 117 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the purchase, the director owned 2,703 shares of the company’s stock, valued at $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 4,514 shares of company stock valued at $2,894,841 over the last quarter. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in Eli Lilly and Company during the first quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in Eli Lilly and Company during the second quarter valued at $27,000. Evolution Wealth Management Inc. bought a new position in Eli Lilly and Company during the second quarter valued at $29,000. Steph & Co. grew its holdings in shares of Eli Lilly and Company by 290.0% in the third quarter. Steph & Co. now owns 39 shares of the company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in shares of Eli Lilly and Company in the second quarter worth about $31,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 3.5%

The stock’s fifty day moving average price is $777.69 and its 200 day moving average price is $770.84. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a market capitalization of $797.18 billion, a P/E ratio of 55.05, a PEG ratio of 1.21 and a beta of 0.47.

About Eli Lilly and Company

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.