Eli Lilly and Company (NYSE:LLY) Releases FY24 Earnings Guidance

Eli Lilly and Company (NYSE:LLY) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $16.10-$16.60 for the period, compared to the consensus EPS estimate of $13.68. The company issued revenue guidance of $45.4-$46.6 billion, compared to the consensus revenue estimate of $42.93 billion. Eli Lilly and Company also updated its FY 2024 guidance to 16.100-16.600 EPS.

Eli Lilly and Company Stock Up 5.5 %

NYSE:LLY traded up $46.37 during mid-day trading on Friday, reaching $891.68. The stock had a trading volume of 6,587,628 shares, compared to its average volume of 3,089,428. The stock has a market cap of $847.46 billion, a P/E ratio of 131.32, a PEG ratio of 1.81 and a beta of 0.41. The business’s 50 day moving average is $871.07 and its 200 day moving average is $794.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $966.10.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an overweight rating in a report on Thursday, July 11th. Barclays boosted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Truist Financial reiterated a buy rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Guggenheim lifted their price objective on Eli Lilly and Company from $855.00 to $884.00 and gave the company a buy rating in a report on Monday, August 5th. Finally, Argus boosted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a buy rating in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of Moderate Buy and an average target price of $916.53.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 over the last three months. Company insiders own 0.13% of the company’s stock.

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.