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

Shares of Eli Lilly and Company (NYSE:LLY) rose 2.6% during trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $754.42 and last traded at $754.36. Approximately 950,304 shares changed 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 analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the firm earned $1.62 EPS. The firm’s revenue was up 26.0% compared to the same quarter last year.

Analyst Ratings Changes

LLY has been the subject of a number of recent analyst reports. Barclays upped their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Bank of America upped their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Truist Financial increased their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. 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, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $757.95.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lipe & Dalton purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company in the third quarter worth $27,000. Tidemark LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth $29,000. Core Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 188.2% in 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 last quarter. Finally, Optiver Holding B.V. purchased a new position in Eli Lilly and Company in the third quarter worth $36,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.6 %

The firm has a market capitalization of $717.00 billion, a PE ratio of 111.10, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company’s fifty day simple moving average is $761.06 and its 200-day simple moving average is $672.28.

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.