Millennium Management LLC Buys 234,590 Shares of Progyny, Inc. (NASDAQ:PGNY)

Millennium Management LLC increased its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 77.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 535,962 shares of the company's stock after purchasing an additional 234,590 shares during the quarter. Millennium Management LLC owned 0.59% of Progyny worth $15,334,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company's stock valued at $317,097,000 after purchasing an additional 41,687 shares during the last quarter. Jennison Associates LLC grew its stake in Progyny by 2.7% during the 1st quarter. Jennison Associates LLC now owns 2,596,422 shares of the company's stock worth $99,054,000 after buying an additional 67,632 shares during the last quarter. Principal Financial Group Inc. increased its position in Progyny by 3.1% in the first quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company's stock worth $53,437,000 after buying an additional 42,302 shares during the period. Farallon Capital Management LLC increased its position in Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company's stock worth $37,436,000 after buying an additional 715,900 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Progyny by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company's stock valued at $36,676,000 after buying an additional 254,725 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares in the company, valued at $10,877,490. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.30% of the company's stock.

Progyny Price Performance

Shares of Progyny stock traded down $0.21 during trading on Monday, hitting $16.09. The stock had a trading volume of 1,953,574 shares, compared to its average volume of 1,340,819. The business has a fifty day moving average of $21.68 and a two-hundred day moving average of $27.22. Progyny, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $42.08. The firm has a market cap of $1.45 billion, a P/E ratio of 26.72, a PEG ratio of 1.54 and a beta of 1.43.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company had revenue of $304.09 million during the quarter, compared to analyst estimates of $305.32 million. During the same quarter last year, the firm posted $0.15 EPS. The business's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Progyny, Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PGNY. Jefferies Financial Group lowered their price target on shares of Progyny from $31.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, September 19th. BTIG Research lowered shares of Progyny from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 7th. Canaccord Genuity Group cut Progyny from a "buy" rating to a "hold" rating and cut their price target for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Leerink Partners decreased their price objective on Progyny from $25.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. cut their target price on Progyny from $31.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.73.

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.