2. Progyny, Inc. (NASDAQ: PGNY)
Timon’s Stake Value: $21,314,000
Percentage of Philip Timon’s 13F Portfolio: 12.44%
Number of Hedge Fund Holders: 26
Progyny, Inc. (NASDAQ: PGNY) focuses on fertility and family-building. The company was founded in 2008 and ranks second on the list of 10 best stocks to invest in according to Philip Timon’s Owls Nest Partners. Progyny, Inc. (NASDAQ: PGNY) currently has a $4.2 billion market capitalization and was able to deliver a 54.38% return in the past 12 months.
On August 12, Barclays analyst Sarah James initiated a coverage on Progyny, Inc. (NASDAQ: PGNY) with an “Overweight” rating and $64 price target. The hedge fund managed by Philip Timon owns 478,850 shares in Progyny, Inc. (NASDAQ: PGNY) worth over $21 million, representing 12.44% of their portfolio. Owls Nest Partners decreased its stake in the firm by 14% in the first quarter of 2021. Hedge funds are loading up on Progyny, Inc. (NASDAQ: PGNY), as Insider Monkey’s data shows that 26 hedge funds held stakes in the company as of the end of the first quarter of 2021, up from 24 funds a quarter earlier.
Polen Capital, in its first quarter 2021 investor letter, mentioned Progyny, Inc. (NASDAQ: PGNY). Here is what the fund said:
“Progyny is a fertility benefits manager that works on behalf of self-insured companies and their employees to provide fertility outcomes at a lower cost. Fertility is a somewhat unique benefit in that it is rarely used and relatively expensive with extremely high tail risk cost. Additionally, providing this benefit is becoming increasingly table stakes for human-capital-centric businesses.….”(Click here to see the full text)
