LLY - Stock-Split Watch: Are These 2 Top Growth Stocks Next?
2024-03-28 08:00:00 ET
Are stock splits back in style? About two years ago, a number of high-profile corporations made such moves after their shares rose to unwieldy levels. Now, Chipotle , one of the leading fast-casual restaurant chains, is on the verge of conducting a 50-for-1 stock split. It was arguably about time -- Chipotle currently trades for close to $3,000 per share.
In that spirit, other major corporations whose shares have soared in recent years could also benefit from stock splits. Let's consider two examples: Eli Lilly (NYSE: LLY) and Regeneron Pharmaceuticals (NASDAQ: REGN) .
Eli Lilly has conducted several stock splits in its long and storied history, but the last time it did so was in 1997. A lot has changed at the company since then. In recent years, Eli Lilly's shares have crushed the stock market. It is now the largest healthcare company by market capitalization. Its share price is getting up there -- the stock is currently at just under $771. There are excellent reasons to think the drugmaker will continue to beat the market and could hit $1,000 soon, so a stock split could be in the cards soon.
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Stock-Split Watch: Are These 2 Top Growth Stocks Next?