Eli Lilly and Company (NYSE:LLY) Trading Up 6% After Better-Than-Expected Earnings

Eli Lilly and Company (NYSE:LLY) was up 6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $795.50 and last traded at $781.40. Approximately 3,705,738 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 3,022,472 shares. The stock had previously closed at $737.20.

The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 59.28%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 EPS.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LLY shares. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target on the stock. in a report on Wednesday, February 21st. Citigroup lifted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley lifted their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $757.95.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lipe & Dalton bought a new position in Eli Lilly and Company during the fourth quarter valued at about $26,000. Thompson Investment Management Inc. bought a new position in Eli Lilly and Company during the third quarter worth about $27,000. Tidemark LLC bought a new position in Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. boosted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Finally, Legacy Financial Group LLC bought a new position in Eli Lilly and Company during the third quarter worth about $35,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

The stock has a market capitalization of $741.12 billion, a PE ratio of 114.40, a P/E/G ratio of 1.58 and a beta of 0.37. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The business’s fifty day moving average price is $762.03 and its 200-day moving average price is $669.96.

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.