5 Best Performing Growth Stocks in 2022

1. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 75

YTD Share Price Gain in 2022 as of December 29: 34.01%

P/E Ratio as of December 29: 55.59

Eli Lilly and Company (NYSE:LLY) discovers, develops, and markets human pharmaceuticals worldwide. The company was founded in 1876 and is headquartered in Indianapolis, Indiana. On December 12, Eli Lilly and Company (NYSE:LLY) declared a $1.13 per share quarterly dividend, a 15.3% increase from its prior dividend of $0.98. The dividend is payable on March 10, 2023 to shareholders of record on February 15. Eli Lilly and Company (NYSE:LLY) is one of the best performing growth stocks of 2022. 

On December 14, JPMorgan analyst Chris Schott raised the firm’s price target on Eli Lilly and Company (NYSE:LLY) to $400 from $380 and kept an Overweight rating on the shares. The analyst sees “encouraging” core product and pipeline traction.

According to Insider Monkey’s third quarter database, Eli Lilly and Company (NYSE:LLY) was part of 75 hedge fund portfolios, compared to 70 in the prior quarter. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the biggest position holder in the company, with 2.4 million shares worth $802.8 million. 

Here is what ClearBridge Global Growth Strategy has to say about Eli Lilly and Company (NYSE:LLY) in its Q3 2022 investor letter:

“In the U.S., we initiated a position in pharmaceutical maker Eli Lilly (NYSE:LLY) as it brings out new drug candidates for diabetes and Alzheimer’s disease. New drugs impact diabetes but have also demonstrated significant weight loss for patients who are overweight and have other co-morbidity issues as a result. Lilly is one of the two key players in diabetes care and we believe the potential market opportunity is much higher than the consensus forecasts as we are seeing evidence of accelerating adoption.”

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