Is it Wise to Invest in Progyny (PGNY)?

Polen Capital, an investment management firm, published its “Polen U.S. Small Company Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Over the first quarter, the Polen U.S. Small Company Growth Composite Portfolio (the “Portfolio”) returned -21.98% gross and -22.18% net of fees, respectively, underperforming the Russell 2000 Growth Index’s (the “Index’) -12.63% return.   Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022. 

In its Q1 2022 investor letter, Polen U.S. Small Company Growth Fundmentioned Progyny, Inc. (NASDAQ:PGNY) and explained its insights for the company. Founded in 2008, Progyny, Inc. (NASDAQ:PGNY) is a United States-based fertility benefits management company with a $2.8 billion market capitalization. Progyny, Inc. (NASDAQ:PGNY) delivered a -38.67% return since the beginning of the year, while its 12-month returns are down by -52.46%. The stock closed at $30.88 per share on June 03, 2022.

Here is what Polen U.S. Small Company Growth Fund has to say about Progyny, Inc. (NASDAQ:PGNY) in its Q1 2022 investor letter:

“Fertility benefits management company Progyny reported solid results during the quarter, and we continue to believe the longer- term trends behind the growing need for fertility treatments remain unchanged. Progyny’s customer service, clinical results, and affordability have made it a standout among its peers.

Fertility is an important benefit for companies that are looking to attract and retain women and other underrepresented talent who are focused on family building, and we believe a benefit that companies will increasingly invest in as they lean into their diversity, equity, and inclusion initiatives.”

Countries with Lowest Abortion Rates in the World in 2018


Our calculations show that Progyny, Inc. (NASDAQ:PGNY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Progyny, Inc. (NASDAQ:PGNY) was in 18 hedge fund portfolios at the end of the first quarter of 2022, compared to 26 funds in the previous quarter. Progyny, Inc. (NASDAQ:PGNY) delivered a -28.95% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on Progyny, Inc. (NASDAQ:PGNY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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