Baron Funds: “We Retain Conviction in Eli Lilly (LLY)”

Baron Funds, an asset management firm, published its “Baron Health Care Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. In the quarter ended March 31, 2022, Baron Health Care Fund (the “Fund”) declined 9.93% (Institutional Shares), compared with the 4.56% decline for the Russell 3000 Health Care Index (the “Benchmark”) and the 4.60% decline for the S&P 500 Index. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Health Care Fund mentioned Eli Lilly and Company (NYSE:LLY) and explained its insights for the company. Founded in 1876, Eli Lilly and Company (NYSE:LLY) is an Indianapolis, Indiana-based pharmaceutical company with a $276.2 billion market capitalization. Eli Lilly and Company (NYSE:LLY) delivered a 5.27% return since the beginning of the year, while its 12-month returns are up by 30.10%. The stock closed at $290.79 per share on June 14, 2022.

Here is what Baron Health Care Fund has to say about Eli Lilly and Company (NYSE:LLY) in its Q1 2022 investor letter:

“Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company with a diverse offering primarily focused on therapeutics. Performance was strong mostly due to consistent financial growth powered by its core diabetes (and future obesity) franchise, as well as the constant drumbeat surrounding the Alzheimer’s therapeutic market, of which Eli Lilly has one of the three potential winning blockbuster candidates in Donanemab. We retain conviction in Eli Lilly given the company’s strong long-term growth outlook.”

Our calculations show that Eli Lilly and Company (NYSE:LLY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Eli Lilly and Company (NYSE:LLY) was in 53 hedge fund portfolios at the end of the first quarter of 2022, compared to 61 funds in the previous quarter. Eli Lilly and Company (NYSE:LLY) delivered a 5.57% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on Eli Lilly and Company (NYSE:LLY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.