5 Stocks Jim Cramer and Hedge Funds Have in Common

In this article, we will take a look at the 5 stocks that Jim Cramer and hedge funds have in common. If you want to explore similar stocks, you can go to 10 Stocks Jim Cramer and Hedge Funds Have in Common.

5. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 76

Eli Lilly and Company (NYSE:LLY) is one of Cramer’s “great American companies with beaten down stocks”. He thinks this stock is “sensational” and recommends “buying the dip” on the stock. Cramer is also positive on the company’s Alzheimer’s drug, donanemab, and noted that it can potentially result in a 10% upside for the stock from current levels. Eli Lilly and Company (NYSE:LLY) is one of the top stocks to buy now according to Jim Cramer and hedge funds. As of April 20, the stock has gained 9.99% over the past 6 months.

Eli Lilly and Company (NYSE:LLY) was spotted on 76 investors’ portfolios at the close of Q4 2022. These funds disclosed collective stakes worth $5.15 billion in the company. As of December 31, GQG Partners is the dominant investor in the company and has a position worth $602.8 million.

Madison Investments made the following comment about Eli Lilly and Company (NYSE:LLY) in its Q1 2023 investor letter:

“Eli Lilly and Company (NYSE:LLY) was down during the first quarter after a strong 2022. Fourth quarter earnings were slightly better than expected but both Trulicity and Mounjaro, key growth drivers, missed expectations. The earnings per share beat was driven by higher gross margins and a lower tax rate. Mounjaro has additional obesity data reading out in mid-2023 along with the expected obesity approval in the second half of the year. Lilly is also working on next generation treatments for diabetes and obesity, with a new GGG and oral GLP-1 in the clinic which will report phase II data in mid-2023. Finally, donanemab for Alzheimer’s has an important trial reading out in 2Q 2023 which should be supportive of full FDA approval in early 2024.”