Baron Discovery Fund recently published its second-quarter commentary – a copy of which can be downloaded here. During the second quarter of 2021, the Baron Discovery Fund returned 6.07% (institutional shares). In comparison, the benchmark S&P 500 Index was up 8.55%, while the Russell 2000 Growth Index was up 3.92%. You should check out Baron Discovery Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Progyny Inc. (NASDAQ:PGNY) is one of them. Progyny Inc. (NASDAQ:PGNY) operates as a fertility benefits management company. In the last three months, Progyny Inc. (NASDAQ:PGNY) stock lost 11%. Here is what the fund said:
“We purchased Progyny, Inc. at the company’s successful IPO in October 2019. Progyny is a leading benefits management company specializing in fertility and family benefits. It provides comprehensive fertility solutions via a network of participating physicians who are among the best in the country. Its share price increased in the quarter after growing revenues by 51% and beating Street estimates on profitability. It also guided second quarter results ahead of consensus with 100% revenue growth and cash flow better than expected. Progyny now has 2.7 million members (nearly double 1.4 million members it had at the end of the third quarter of 2020), and it has only scratched the surface of its total opportunity of a 90 million member target market.”
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Last month, we published an article revealing that Progyny Inc. (NASDAQ:PGNY) was one of the 5 best stocks to invest in according to Philip Timon’s Owls Nest Partners.
In Q1 2021, the number of bullish hedge fund positions on Progyny Inc. (NASDAQ:PGNY) stock increased by about 8% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in PGNY’s growth potential. Our calculations showed that Progyny Inc. (NASDAQ:PGNY) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
