Healthcare Stocks Continue to Hit Records: LLY, AFL, MCK

1. $Eli Lilly(LLY)$ soared to a record high of $613 on October 12th.

Eli Lilly and Novo Nordisk announced that it plans to stop a kidney outcomes clinical trial evaluating Ozempic (semaglutide) in treating patients with type 2 diabetes and chronic kidney disease.

The study’s independent data monitoring committee recommended the trial be halted because results from an interim analysis showed an efficacy level that met pre-specified criteria.

Lilly is also evaluating Mounjaro in a phase 2 study targeting chronic kidney disease.

2. $Aflac(AFL)$ climbed to $80.50 on October 12th.

Aflac is a supplemental health and life insurance provider in the US and Japan. The company has been expanding its product offerings to include accidents, disability, and long-term-care insurance.

Over the past year the S&P 500 is higher by 20.51% while AFL has gained 36.37%. AFL earned $7.47 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 10.6.

3. $Ares Management LP(ARES)$ achieved a record high of $112.15 on October 12th.

 Ares Management has launched the Ares European Strategic Income Fund, an open-ended direct lending fund.

This initiative provides individual investors in Europe and Asia with access to Ares's European direct lending strategy, enhancing their investment opportunities in the region.

4. $Cadence Design(CDNS)$ reached $255.85 on October 12th.

Shares of the maker of hardware and software products for validating chip designs witnessed a gain of 5.62% over the previous month, beating the performance of the Computer and Technology sector with its loss of 1.56%.

5. $McKesson(MCK)$ traded at $461.32 on October 12th.

McKesson, drug distributor, received a target price of $485.00 to $490.00 from Evercore ISI analysts.

6. $Synopsys(SNPS)$ reached a substantial value of $502.66 on October 12th.

Synopsys, the semiconductor company, consistently demonstrated robust financials, boasting a net margin of 18.71% and a return on equity of 18.01%.