Eli Lilly and (NYSE:LLY) Issues Earnings Results

Eli Lilly and (NYSE:LLYGet Rating) announced its earnings results on Thursday. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.61), Briefing.com reports. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Eli Lilly and had a net margin of 19.58% and a return on equity of 85.10%. Eli Lilly and’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 earnings per share. Eli Lilly and updated its FY 2022 guidance to $7.90-$8.05 EPS.

Eli Lilly and Price Performance

Shares of NYSE LLY traded down $4.47 during mid-day trading on Friday, hitting $301.32. 2,814,275 shares of the company’s stock traded hands, compared to its average volume of 2,491,261. The company’s 50-day moving average is $316.10 and its two-hundred day moving average is $289.01. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.27 and a quick ratio of 0.98. The company has a market capitalization of $286.30 billion, a P/E ratio of 48.06, a PEG ratio of 2.26 and a beta of 0.35. Eli Lilly and has a 1 year low of $220.20 and a 1 year high of $335.33.

Eli Lilly and Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, August 12th. Eli Lilly and’s payout ratio is currently 62.52%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 80,761 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $302.53, for a total transaction of $24,432,625.33. Following the sale, the insider now directly owns 105,493,049 shares in the company, valued at approximately $31,914,812,113.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 80,761 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $302.53, for a total value of $24,432,625.33. Following the sale, the insider now directly owns 105,493,049 shares of the company’s stock, valued at approximately $31,914,812,113.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $313.44, for a total transaction of $313,440.00. Following the completion of the sale, the chief accounting officer now directly owns 6,274 shares in the company, valued at $1,966,522.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,195,396 shares of company stock worth $380,134,601. 0.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and

A number of hedge funds have recently added to or reduced their stakes in LLY. Arrowstreet Capital Limited Partnership grew its stake in Eli Lilly and by 54.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,311,713 shares of the company’s stock worth $948,375,000 after acquiring an additional 1,172,504 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Eli Lilly and by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,869,274 shares of the company’s stock worth $1,108,044,000 after acquiring an additional 83,299 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in Eli Lilly and by 587.1% in the 1st quarter. Worldquant Millennium Advisors LLC now owns 64,860 shares of the company’s stock worth $18,574,000 after acquiring an additional 55,421 shares in the last quarter. Sculptor Capital LP grew its stake in Eli Lilly and by 61.1% in the 1st quarter. Sculptor Capital LP now owns 144,343 shares of the company’s stock worth $41,336,000 after acquiring an additional 54,722 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in Eli Lilly and by 399.9% in the 1st quarter. Edgestream Partners L.P. now owns 24,486 shares of the company’s stock worth $7,012,000 after acquiring an additional 19,588 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LLY shares. Barclays boosted their price objective on shares of Eli Lilly and from $333.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 7th. StockNews.com downgraded shares of Eli Lilly and from a “strong-buy” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and from $234.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, April 12th. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and from $340.00 to $355.00 in a research report on Wednesday, June 1st. Finally, SVB Leerink started coverage on shares of Eli Lilly and in a research report on Monday, May 23rd. They set an “outperform” rating and a $341.00 price objective for the company. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.06.

About Eli Lilly and

(Get Rating)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

Further Reading

Earnings History for Eli Lilly and (NYSE:LLY)

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