Two April Growth Stocks to Buy Hand Over Fist

As earnings season approaches, the stock market can be tumultuous. Company share prices might change overnight if they overdeliver or fail to deliver. Long-term investors know that quarterly reports rarely modify a company's investing strategy. I like having money in good stocks that should do well in the next weeks. Eli Lilly (NYSE: LLY) and DexCom (NASDAQ: DXCM) are acceptable growth picks.  

1. Eli Lilly Eli Lilly's 2023 revenue rose 20% to $34.1 billion despite coronavirus antibody sales disappearing. This year, the drugmaker should expand sales similarly. The demand for Eli Lilly's new anti-obesity medicine Zepbound is overwhelming several pharmacies. Zepbound-derived diabetes medication Mounjaro will also perform well.  

These two brands will be Eli Lilly's biggest growth drivers for years, so investors should get used to them. The company has led diabetes medication development. Jardiance, another significant product in this area, is still selling well. Eli Lilly's once-weekly insulin medication efsitora alfa should receive significant approvals in its sector in the coming years.  

Beyond diabetes and obesity, the firm has a promising pipeline. It comprises immunology drugs like Olumiant, Omvoh, and Taltz and cancer drugs like Verzenio and Jaypirca. Eli Lilly is reaping the rewards of its five-year innovation. Because of that, it's smashed the market in recent years and should continue to do so.

Another reason to buy Eli Lilly is their strong dividend program. Lilly has doubled its dividends in five years, but its forward return of 0.68% isn't appealing. For growth or dividends, Eli Lilly is a great stock to buy this month and stick onto.  

2. DexCom DexCom makes diabetes CGM systems. The company offers the G6, G7, and DexCom One, a cheaper option for price-sensitive customers. CGM devices outperform BGMs because they assess blood sugar levels every five minutes throughout the day. BGMs only report blood sugar levels at a set time and require painful finger sticks.  

CGM technology use is expanding because of that. This trend benefits industry leader DexCom. Company revenue rose 24% to $3.62 billion last year. DexCom's $1.30 EPS rose 58.5% from 2022.  

Some investors worry that Zepbound's popularity may hurt DexCom's revenue, but the company still has potential to develop. Management notes that diabetes patients follow their doctors' advice to utilize CGM technology with weight-loss regimens, so this shouldn't be a problem. DexCom thinks that the U.S. market is underpenetrated, but third-party payers have covered more CGM worldwide, giving it access to 4 million funded patients in the previous two years.  

A huge global market remains unexplored. Over 500 million persons have diabetes, but just 1% use CGM. Many of these patients live in impoverished nations where DexCom doesn't operate. Still, the corporation has made it a priority to expand into other markets and may soon have a considerably larger reach. DexCom may generate huge returns for years that way.  

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