Progyny, Inc. (NASDAQ:PGNY) Position Increased by Jennison Associates LLC

Jennison Associates LLC raised its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 2.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,596,422 shares of the company’s stock after buying an additional 67,632 shares during the period. Jennison Associates LLC owned about 2.70% of Progyny worth $99,054,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vitruvian Partners LLP acquired a new position in Progyny in the 4th quarter worth approximately $2,957,000. International Assets Investment Management LLC boosted its stake in Progyny by 9,381.3% in the 4th quarter. International Assets Investment Management LLC now owns 158,053 shares of the company’s stock worth $5,876,411,000 after purchasing an additional 156,386 shares during the period. Louisiana State Employees Retirement System acquired a new position in Progyny in the 4th quarter worth approximately $870,000. Neuberger Berman Group LLC boosted its stake in Progyny by 13.6% in the 4th quarter. Neuberger Berman Group LLC now owns 274,409 shares of the company’s stock worth $10,203,000 after purchasing an additional 32,871 shares during the period. Finally, Congress Asset Management Co. MA boosted its stake in Progyny by 13.1% in the 4th quarter. Congress Asset Management Co. MA now owns 902,909 shares of the company’s stock worth $33,570,000 after purchasing an additional 104,465 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Progyny Trading Down 0.6 %

PGNY traded down $0.18 during trading on Tuesday, hitting $28.07. The stock had a trading volume of 273,653 shares, compared to its average volume of 962,234. The firm has a market cap of $2.67 billion, a PE ratio of 46.31, a P/E/G ratio of 1.84 and a beta of 1.46. Progyny, Inc. has a 12 month low of $23.90 and a 12 month high of $44.95. The company has a 50 day simple moving average of $28.11 and a 200-day simple moving average of $33.86.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $278.08 million for the quarter, compared to the consensus estimate of $289.41 million. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, sell-side analysts anticipate that Progyny, Inc. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Progyny news, President Michael E. Sturmer sold 4,515 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the sale, the president now directly owns 380,038 shares in the company, valued at approximately $12,142,214.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now directly owns 10,098 shares in the company, valued at approximately $286,682.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael E. Sturmer sold 4,515 shares of Progyny stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total transaction of $144,254.25. Following the sale, the president now owns 380,038 shares in the company, valued at $12,142,214.10. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 target price on shares of Progyny in a research note on Thursday, May 16th. BTIG Research decreased their target price on shares of Progyny from $50.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Truist Financial decreased their target price on shares of Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Canaccord Genuity Group decreased their target price on shares of Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, KeyCorp lowered shares of Progyny from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.