Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” first-quarter investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered 10.81% net of fees compared to a 6.07% return for the Russell 2000 Growth Index. At the beginning of the quarter, the market witnessed growing possibilities but later, the collapse of banks and ensuing concerns affected the market. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. Small Company Growth Strategy highlighted stocks like DocGo Inc. (NASDAQ:DCGO) in the first quarter 2023 investor letter. Headquartered in New York, New York, DocGo Inc. (NASDAQ:DCGO) provides mobile health services. On April 27, 2023, DocGo Inc. (NASDAQ:DCGO) stock closed at $8.25 per share. One-month return of DocGo Inc. (NASDAQ:DCGO) was -3.96%, and its shares gained 15.87% of their value over the last 52 weeks. DocGo Inc. (NASDAQ:DCGO) has a market capitalization of $845.691 million.
Polen U.S. Small Company Growth Strategy made the following comment about DocGo Inc. (NASDAQ:DCGO) in its Q1 2023 investor letter:
“New additions to the portfolio included Alight and DocGo Inc. (NASDAQ:DCGO). DocGo is an innovative healthcare company providing unique mobile healthcare solutions. The company is comprised of two segments: Transportation Solutions and Mobile Health Solutions. The Transportation business provides health systems with a reliable, accurate, and safe, Uber-like transportation experience for its patients and health systems upon discharge. The value proposition here is around time, as medical transportation allows the hospital to manage their bed space more efficiently. The Mobile Health Solutions business is essentially a doctor’s office or urgent care facility on wheels. They leverage EMTs, paramedics, and/or license practical nurses to deliver in-home or curbside/in-van care to patients combined with an advanced practical nurse (APP) or physician’s assistant on video. In short, the company has created a business model that we believe is a win-win-win for all constituents of the healthcare ecosystem, leading to rapid adoption. Healthcare professionals like EMTs and paramedics have the potential to upskill and earn more, healthcare providers and payers benefit from lower cost with better outcomes, patients experience better outcomes at greater convenience, in many cases society and government benefit from reaching the underserved, and DocGo does all this with a very compelling and simple revenue and profit model. Docgo has a powerful flywheel that we believe has the potential to drive durable, profitable growth over many years.”
DocGo Inc. (NASDAQ:DCGO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held DocGo Inc. (NASDAQ:DCGO) at the end of the fourth quarter which was 19 in the previous quarter.
We discussed DocGo Inc. (NASDAQ:DCGO) in another article and shared the list of best healthcare stocks for the long term. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
