Eli Lilly Upgrade Boosts GDOC Healthcare ETF

JPMorgan raised its price target for Eli Lilly on Friday, a development that coincided with a month-and-a-half rally in Goldman Sachs’ active healthcare ETF, GDOC. The fund has climbed above its 50-day simple moving average and returned 11.8% over the past three months after a period of underperformance at the start of 2026.

The Goldman Sachs Future Health Care Equity ETF is an actively managed fund that charges a 75 basis point fee. Its strategy uses fundamental research to invest in companies developing new treatments and technologies in areas such as genomics, precision medicine and digital healthcare. The fund has the flexibility to use futures, forwards and options as part of its portfolio construction.

Eli Lilly is GDOC’s largest holding. Johnson & Johnson is the second-largest position; J&J has returned nearly 30% year to date and recently received U.S. Food and Drug Administration approval for a new cardiac catheter from its medical-technology division.

Technical measures tracked by traders show GDOC’s price moving above its 50-day simple moving average, a common gauge of short-term momentum. The ETF’s three-month gain follows earlier weakness this year and reflects renewed investor interest in innovation-focused healthcare names.

Market conditions that could affect healthcare stocks include possible interest-rate cuts and changes in global trade. Lower rates and improving trade flows can lift equity markets broadly and may increase merger-and-acquisition activity in the sector, which would influence stock prices for drugmakers and medical-technology firms.

GDOC will enter its fifth year of operation this fall. The fund’s mix of large-cap pharmaceuticals, medical-technology and biotech-related stocks provides exposure to companies focused on healthcare innovation rather than a defensive health-care allocation.