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What Makes Eli Lilly and Company (LLY) an Attractive Investment?

Aristotle Atlantic Partners, LLC, an investment management company, released its “Core Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 12.95% gross of fees (12.84% net of fees), outperforming the S&P 500 Index, which recorded a total return of 11.69%. Both security selection and allocation effects led the strategy to outperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Aristotle Atlantic Core Equity Strategy featured stocks like Eli Lilly and Company (NYSE:LLY) in the fourth quarter 2023 investor letter. Headquartered in Indianapolis, Indiana, Eli Lilly and Company (NYSE:LLY) is a pharmaceutical company. On March 1, 2024, Eli Lilly and Company (NYSE:LLY) stock closed at $782.12 per share. One-month return of Eli Lilly and Company (NYSE:LLY) was 10.75%, and its shares gained 145.21% of their value over the last 52 weeks. Eli Lilly and Company (NYSE:LLY) has a market capitalization of $743.142 billion.

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."

A scientist in a lab coat closely studying a petri dish for drug delivery technology.

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Eli Lilly and Company (NYSE:LLY) is in 22nd position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Eli Lilly and Company (NYSE:LLY) was held by 102 hedge fund portfolios, compared to 102 in the previous quarter, according to our database.

We discussed Eli Lilly and Company (NYSE:LLY) in another article and shared Jim Cramer’s new stock picks for March 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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