Should You Now Consider Disposing Your Warby Parker (WRBY) Shares?

Baron Funds, an asset management firm, published its “Baron Health Care Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. In the quarter ended June 30, 2022, Baron Health Care Fund (the “Fund”) declined 10.00% (Institutional Shares), compared with the 7.43% decline for the Russell 3000 Health Care Index (the “Benchmark”) and the 16.10% decline for the S&P 500 Index. Since its inception (April 30, 2018), the Fund increased 15.00% on an annualized basis compared with the 11.96% gain for the Benchmark and the 10.91% gain for the S&P 500 Index. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Baron Health Care Fund mentioned Warby Parker Inc. (NYSE:WRBY) and explained its insights for the company. Founded in 2010, Warby Parker Inc. (NYSE:WRBY) is a United States-based online retail company with a $1.9 billion market capitalization. Warby Parker Inc. (NYSE:WRBY) delivered a 43.38% return and it closed at $17.22 per share on August 12, 2022.

Here is what Baron Health Care Fund has to say about Warby Parker Inc. (NYSE:WRBY) in its Q2 2022 investor letter:

“Health care related company Warby Parker Inc. (NYSE:WRBY) is responsible for about a quarter of the relative shortfall in the period. Shares of eyewear brand Warby Parker were down for the period held due to difficult market conditions for newly public companies as well as weaker-than-expected quarterly results owing to heightened COVID-related disruptions early in the year.”

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Our calculations show that Warby Parker Inc. (NYSE:WRBY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Warby Parker Inc. (NYSE:WRBY) was in 18 hedge fund portfolios at the end of the second quarter of 2022, compared to 15 funds in the previous quarter. Warby Parker Inc. (NYSE:WRBY) delivered a -1.26% return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on Warby Parker Inc. (NYSE:WRBY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

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