Is Progyny (PGNY) a Wise Investment Choice?

ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy outperformed its Russell 3000 Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in nine of 10 sectors in which it was invested (out of 11 sectors total). The main contributors were the IT, consumer discretionary, and health care sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Sustainability Leaders Strategy, in its Q4 2021 investor letter, mentioned Progyny, Inc. (NASDAQ:PGNY) and discussed its stance on the firm. Founded in 2006, Progyny, Inc. (NASDAQ:PGNY) is a United States-based fertility benefits management company with a $4.5 billion market capitalization, and is currently spearheaded by its CEO, Pete Anevski. Progyny, Inc. (NASDAQ:PGNY) delivered a -1.71% return since the beginning of the year, while its 12-month returns are up by 7.92%. The stock closed at $49.49 per share on April 04, 2022.

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Progyny, Inc. (NASDAQ:PGNY) in its Q4 2021 investor letter:

“Improving health remains a key impact theme for the portfolio, and over the past year or so we have increased our exposure to the health care sector, through the addition of Progyny, a leading provider of fertility benefit management services to self-insured employers that offers a rare win-win-win for employers, employees, health systems and doctors, with clear savings and quality improvements.

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Our calculations show that Progyny, Inc. (NASDAQ:PGNY) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Progyny, Inc. (NASDAQ:PGNY) was in 26 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 28 funds in the previous quarter. Progyny, Inc. (NASDAQ:PGNY) delivered a 2.95% return in the past 3 months.

In October 2021, we also shared another hedge fund’s views on Progyny, Inc. (NASDAQ:PGNY) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.