What is Leerink Partnrs’ Forecast for LLY FY2024 Earnings?

Eli Lilly and Company (NYSE:LLY) – Investment analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for Eli Lilly and Company in a research report issued to clients and 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 estimate 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.

Other research analysts have also recently issued research reports about the company. Citigroup boosted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. 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 for the company in a research report on Monday, November 4th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report 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 price target on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $758.70 on Thursday. The firm’s fifty day simple moving average is $784.03 and its 200 day simple moving average is $856.70. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $612.70 and a twelve month high of $972.53. The firm has a market capitalization of $720.25 billion, a price-to-earnings ratio of 82.02, a PEG ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $12.09 billion. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently added to or reduced their stakes in the business. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC raised its position in shares of 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 in the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.