Jim Cramer’s 5 Favorite Healthcare Stock Picks in 2024

2. Eli Lilly And Co (NYSE:LLY)

Number of Hedge Fund Investors: 102

Eli Lilly And Co (NYSE:LLY) is one of the top favorite stocks of Jim Cramer. His charitable trust also owns a stake in Eli Lilly And Co (NYSE:LLY). Cramer is bullish on the stock because of Eli Lilly And Co’s (NYSE:LLY) weight loss drugs. Recently, Cramer said the latest selloff around the stock wasn’t “warranted.” He said he’d buy more Eli Lilly And CO (NYSE:LLY) “after the dust settles.”

Aristotle Atlantic Core Equity Strategy stated the following regarding Eli Lilly and Company (NYSE:LLY) in its fourth quarter 2023 investor letter:

“Eli Lilly and Company (NYSE:LLY) is a leading pharmaceutical company that develops diabetes, oncology, immunology and neuroscience medicines. The company generates over half of its revenue in the U.S. from its top-selling drugs Trulicity, Verzenio and Taltz. The company operates in a single business segment, Human pharmaceutical products.

Eli Lilly has a deep pipeline in treatment areas focused on metabolic disorders, oncology, immunology and central nervous system disorders. Currently, there are two phase three assets, Orforglipron, an oral GLP-1 and retatrutide, a triple incretin agonist, which have the potential to expand upon the potential success of Mounjaro. We believe that Mounjaro has the potential to commercialize beyond type 2 diabetes and obesity, potentially in the areas mentioned above of heart disease, sleep apnea, fatty liver disease and chronic kidney disease. We belief the premium valuation is supported by this outsized growth profile.”