Baron Opportunity Fund recently published its second-quarter commentary – a copy of which can be downloaded here. During the second quarter of 2021, the Baron Opportunity Fund returned 10.14% (institutional shares). In comparison, the benchmark S&P 500 Index was up 8.55%, while the Russell 3000 Growth Index was up 11.38%. You should check out Baron’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 Shockwave Medical Inc. (NASDAQ:SWAV) is one of them. Shockwave Medical Inc. (NASDAQ:SWAV) is a medical device company. In the last three months, Shockwave Medical Inc. (NASDAQ:SWAV) stock gained 18%. Here is what the fund said:
“ShockWave Medical, Inc. provides intravascular lithotripsy for the minimally invasive treatment of arterial plaque. Shares performed well for the quarter after the company announced FDA approval of its product for use in coronary artery disease, which we see as a significant growth driver as it launches in the U.S. ShockWave’s financial results and guidance were also outstanding, with first quarter revenue growth of 110% and full-year revenue guidance over 200% at the high end. We think ShockWave has a differentiated technology serving a significant unmet need in arterial disease and meaningful long-term growth potential.”
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Earlier this month, we published an article revealing that Alger suggested investors to invest in Shockwave Medical Inc. (NASDAQ:SWAV) stock.
In Q1 2021, the number of bullish hedge fund positions on Shockwave Medical Inc. (NASDAQ:SWAV) stock decreased by about 23% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in SWAV’s growth potential. Our calculations showed that Shockwave Medical Inc. (NASDAQ:SWAV) 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.
