Jennison Associates LLC decreased its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 56.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 503,972 shares of the company's stock after selling 663,990 shares during the period. Jennison Associates LLC owned 0.56% of Progyny worth $8,447,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC increased its stake in Progyny by 703.9% during the 2nd quarter. Hsbc Holdings PLC now owns 46,475 shares of the company's stock valued at $1,328,000 after purchasing an additional 40,694 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company's stock valued at $21,636,000 after purchasing an additional 22,012 shares in the last quarter. Kestrel Investment Management Corp acquired a new position in Progyny during the 2nd quarter valued at approximately $5,005,000. Farallon Capital Management LLC increased its stake in Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company's stock valued at $37,436,000 after purchasing an additional 715,900 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in Progyny by 15.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company's stock valued at $16,366,000 after purchasing an additional 132,672 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company's stock.
Wall Street Analysts Forecast Growth
PGNY has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Progyny from $31.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, September 19th. Truist Financial reiterated a "hold" rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Canaccord Genuity Group cut their price objective on shares of Progyny from $18.00 to $17.00 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group lowered shares of Progyny from a "buy" rating to a "hold" rating and cut their price objective for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Progyny has an average rating of "Hold" and an average target price of $25.42.
Check Out Our Latest Research Report on PGNY
Progyny Stock Performance
Shares of NASDAQ:PGNY traded up $0.47 during midday trading on Friday, hitting $15.44. The company's stock had a trading volume of 1,381,650 shares, compared to its average volume of 1,744,200. The business's 50 day simple moving average is $16.40 and its 200 day simple moving average is $22.67. The company has a market cap of $1.31 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $42.08.
Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Progyny's revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts predict that Progyny, Inc. will post 0.58 earnings per share for the current fiscal year.
Progyny Profile
(
Free Report)
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.
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