#3 - Eli Lilly (NYSE:LLY)
Pharmaceutical stocks are solid defensive stocks at any time. However, the case for Eli Lilly and Company (NYSE: LLY) has an additional tailwind. That comes from the company's flagship products, Mounjaro and Zepbound.
Mounjaro is a groundbreaking treatment for diabetes, and Zepbound is Lilly's entry into the booming weight loss market. Mounjaro sales have already surpassed $2 billion. There's only one quarter of data on Zepbound, but the results are positive so far, with the company generating $175 million in sales.
Individuals may cut back on many things if inflation heats up, but both Mounjaro and Zepbound are drugs that you have to stay on. Eli Lilly was counting on that when it issued positive revenue and earnings guidance for the full year 2024.
LLY stock also pays a dividend. The 0.68% yield is not particularly impressive, but the company has increased its payout for 10 consecutive years, and that payout is currently $5.20 per share.
About Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.
Read More - Current Price
- $767.76
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 17 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1,002.22 (30.5% Upside)
