Leerink Partnrs Has Negative Outlook for LLY FY2024 Earnings

Eli Lilly and Company (NYSE:LLY) – Research analysts at Leerink Partnrs cut their FY2024 EPS estimates for shares of Eli Lilly and Company in a note issued to investors on Wednesday, January 15th. Leerink Partnrs analyst D. Risinger now anticipates that the company will post earnings per share of $12.73 for the year, down from their prior forecast of $13.20. The consensus estimate for Eli Lilly and Company’s current full-year earnings is $13.14 per share. Leerink Partnrs also issued estimates for Eli Lilly and Company’s Q4 2024 earnings at $5.06 EPS, FY2025 earnings at $23.76 EPS, FY2026 earnings at $30.80 EPS, FY2027 earnings at $38.71 EPS, FY2028 earnings at $45.85 EPS and FY2029 earnings at $51.37 EPS.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the business posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year.

Several other analysts also recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Citigroup upped their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $758.70 on Thursday. The business’s 50-day simple moving average is $784.03 and its 200-day simple moving average is $856.70. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52 week low of $612.70 and a 52 week high of $972.53. The firm has a market cap of $720.25 billion, a price-to-earnings ratio of 82.02, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC increased its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC boosted its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.