5 Best Stocks to Buy for High Returns

3. Eli Lilly and Company (NYSE:LLY)

Latest Forward P/E Ratio: 48.78

Number of Q3 2023 Hedge Fund Investors: 102

Eli Lilly and Company (NYSE:LLY) is one of the largest pharmaceutical companies in the world. The firm’s weight loss drug Mounjaro is selling like hot cakes these days, and to keep up with demand, Eli Lilly and Company (NYSE:LLY) is spending $2.5 billion to build a new manufacturing facility.

By the end of this year’s third quarter, 102 out of the 910 hedge funds polled by Insider Monkey had invested in Eli Lilly and Company (NYSE:LLY). Ken Fisher’s Fisher Asset Management owned the biggest stake out of these which was worth $2.3 billion.

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