How many reasons do you need to consider Eli Lilly (NYSE:LLY) stock? You can point to Eli Lilly’s financial figures, or the performance of the shares in a time when other assets lost value.
Or, you could consider the dividends and Eli Lilly’s expansive clinical pipeline. Any or all of these reasons should be enough to turn any skeptic into a believer.
Eli Lilly is one of those companies that your parents and grandparents might invest in. They probably were looking for relative safety and slow growth, not fast gains.
Is it possible to achieve low volatility and impressive growth in the same asset, though? If you’re unsure, check out Eli Lilly’s stats and you’ll see what a “total package” investment looks like.
The Rundown on LLY Stock
First of all, there’s no denying that LLY stock outperformed many other large-cap stocks in 2022 through mid-November. We discovered that the shares gained 33% year-to-date as of Nov. 18 – not too shabby during a year of “sticky” inflation and recession threats.
Yet, this price growth didn’t come at the expense of safety. Eli Lilly shares have a five-year monthly beta of 0.36, meaning that they have typically moved much slower than the overall stock market.
And by the way, income investors should appreciate the fact that Eli Lilly pays a forward annual dividend yield of 1.11%. Already, this stock is starting to look like a “total package” investment, wouldn’t you agree?
Eli Lilly grew its third-quarter 2022 revenue 2% year over year to $6.94 billion, beating Wall Street’s projection of $6.89 billion. Moreover, the company posted Q3 adjusted profit of $1.98 per share, exceeding the analyst consensus estimate of $1.91 per share.S
Focus on Eli Lilly’s Clinical Progress
We can talk about dividends and financials all day long, but remember what makes Eli Lilly a great company. It all comes down to the products that make people healthier and sometimes even save lives.
For one thing, the Food and Drug Administration or FDA granted Fast Track designation for Eli Lilly’s tirzepatide in treating obesity. Surely, there’s no denying that obesity is a major problem in America. That’s unfortunate, but tirzepatide is addressing a market that should remain lucrative in the years to come.
The same could be said about diabetes. To that end, Eli Lilly earned regulatory approvals in Europe and Japan for Mounjaro for the treatment of Type 2 diabetes.
In addition, Eli Lilly submitted lebrikizumab to treat moderate-to-severe atopic dermatitis in the U.S. and European Union. Along with all of that, the FDA granted Eli Lilly accelerated approval for Retevmo in selected adults with advanced or metastatic solid tumors.
What You Can Do Now
As you can see, Eli Lilly has a diversified portfolio of products that are either currently available or could become available in the near future. Furthermore, Eli Lilly is fiscally rock-solid and the company offers investors a decent dividend.
To sum it up, LLY stock has provided excellent returns in 2022 without much volatility. Now, there’s nothing stopping the company from maintaining its track record of delivering outstanding shareholder value.
So, you’re invited to consider an investment in Eli Lilly today.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.