Eli Lilly and Company (NYSE:LLY) Trading Up 2.2% Following Earnings Beat

Eli Lilly and Company (NYSE:LLY)’s stock price rose 2.2% during trading on Friday following a better than expected earnings announcement. The company traded as high as $869.91 and last traded at $862.9590. Approximately 4,942,127 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 4,016,458 shares. The stock had previously closed at $844.50.

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

Eli Lilly and Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Daiwa America cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 17th. Hsbc Global Res upgraded shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 27th. Leerink Partners reaffirmed 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eli Lilly and Company in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $940.00.

Insiders Place Their Bets

In other news, CEO David A. Ricks purchased 1,632 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares of the company’s stock, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 4,514 shares of company stock worth $2,894,841 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 1.5% in the second quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after buying an additional 1,183,038 shares in the last quarter. Wellington Management Group LLP boosted its position in Eli Lilly and Company by 0.6% during the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock worth $10,495,261,000 after purchasing an additional 81,587 shares during the period. Laurel Wealth Advisors LLC boosted its position in Eli Lilly and Company by 78,621.2% during the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after purchasing an additional 11,537,661 shares during the period. Finally, Norges Bank bought a new position in Eli Lilly and Company during the second quarter worth $8,827,714,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

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’s 50-day simple moving average is $780.74 and its 200 day simple moving average is $771.60. The stock has a market capitalization of $816.76 billion, a P/E ratio of 56.40, 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.