Is Eli Lilly and Company (LLY) an Attractive Growth Stock?

Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The first quarter was difficult for the fund, as it failed to participate in the broader market rally and declined 3.69% compared to the 3.27% decline for the benchmark Russell 3000 Health Care Index and a 7.50% increase for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron Health Care Fund highlighted stocks like Eli Lilly and Company (NYSE:LLY) in the first quarter 2023 investor letter. Headquartered in Indianapolis, Indiana, Eli Lilly and Company (NYSE:LLY) is a pharmaceutical company. On May 17, 2023, Eli Lilly and Company (NYSE:LLY) stock closed at $437.47 per share. One-month return of Eli Lilly and Company (NYSE:LLY) was 16.72%, and its shares gained 52.82% of their value over the last 52 weeks. Eli Lilly and Company (NYSE:LLY) has a market capitalization of $415.278 billion.

Baron Health Care Fund made the following comment about Eli Lilly and Company (NYSE:LLY) in its Q1 2023 investor letter:

“In pharmaceuticals, our largest investment continues to be in Eli Lilly and Company (NYSE:LLY). Lilly’s new diabetes drug Mounjaro is likely to be approved for obesity in 2023. Lilly has two new obesity drugs advancing into Phase 3 trials. Lilly also has a drug in late-stage development for Alzheimer’s disease. Lilly is not facing any significant near-term patent expirations, and we think the company should be able to grow revenue and earnings at attractive rates through the end of the decade and beyond.”

Eli Lilly and Company (NYSE:LLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 76 hedge fund portfolios held Eli Lilly and Company (NYSE:LLY) at the end of the fourth quarter which was 75 in the previous quarter.

We discussed Eli Lilly and Company (NYSE:LLY) in another article and shared Ken Fisher’s top dividend stock picks. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

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