5 Biotech Stocks to Buy According to Billionaire Ken Fisher

3. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 62   

Eli Lilly and Company (NYSE:LLY) develops and markets human pharmaceuticals. Securities filings show that Fisher Asset Management owned 6.5 million shares in Eli Lilly and Company (NYSE:LLY) at the end of the third quarter of 2021 worth $1.5 billion. 

On December 3, the US Food and Drug Administration announced that it had authorized the emergency use of a COVID-19 vaccine developed by Eli Lilly and Company (NYSE:LLY) and AbCellera in newborns. The vaccine was previously allowed for those aged 12 years or older.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in Eli Lilly and Company (NYSE:LLY) with 1.6 million shares worth more than $376 million.  

In its Q1 2020 investor letter, Amana Mutual Funds Trust highlighted a few stocks and Eli Lilly and Company (NYSE:LLY) was one of them. Here is what the fund said:

“Even so, Lilly stood out as one, among a handful, of companies that registered a positive return for the first quarter. In January, Lilly reported excellent fourth quarter results, with revenue growing at a faster clip than over the first three quarters of the year. Lilly is also financially strong with debt equivalent to only two times EBITDA3 and 12% of market capitalization. Johnson & Johnson, while trailing Lilly, shares many of the same characteristics and also outperformed.”