Eli Lilly shares surge on a beat-and-raise, proving the stock's swoon was a mistake

Obesity drug giant Eli Lilly on Thursday reported a monster first quarter, fortifying our conviction to stick with the stock after a period of sluggishness. Revenue in the three months ended in March jumped 56% from a year ago to $19.8 billion, trouncing the LSEG consensus of $17.6 billion. Adjusted earnings per share totaled $8.55, more than doubling on an annual basis and crushing the $6.66 consensus, according to LSEG. LLY 1Y mountain Eli Lilly's stock performance over the past 12 months. …