Eli Lilly and Company (NYSE:LLY) Trading Up 2.6% Following Earnings Beat

Eli Lilly and Company (NYSE:LLY) was up 2.6% during trading on Monday following a stronger than expected earnings report. The stock traded as high as $754.42 and last traded at $754.36. Approximately 950,304 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 3,061,418 shares. The stock had previously closed at $734.97.

The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis.

Analyst Ratings Changes

LLY has been the topic of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Morgan Stanley boosted their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, Bank of America boosted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Lipe & Dalton acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $26,000. Thompson Investment Management Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at $27,000. Tidemark LLC acquired a new position in Eli Lilly and Company during the fourth quarter valued at $29,000. Core Wealth Advisors Inc. raised 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 valued at $29,000 after buying an additional 32 shares during the period. Finally, Optiver Holding B.V. acquired a new position in Eli Lilly and Company in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm has a 50-day simple moving average of $761.06 and a two-hundred day simple moving average of $672.28. The company has a market capitalization of $717.00 billion, a price-to-earnings ratio of 111.10, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37.

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.