Teacher Retirement System of Texas Sells 10,255 Shares of Progyny, Inc. (NASDAQ:PGNY)

Teacher Retirement System of Texas lowered its stake in Progyny, Inc. (NASDAQ:PGNY) by 29.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,102 shares of the company’s stock after selling 10,255 shares during the quarter. Teacher Retirement System of Texas’ holdings in Progyny were worth $538,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PGNY. Signaturefd LLC increased its holdings in shares of Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $25,000 after purchasing an additional 1,355 shares during the last quarter. Natixis bought a new position in Progyny during the fourth quarter valued at approximately $69,000. GAMMA Investing LLC boosted its stake in Progyny by 233.9% during the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company’s stock valued at $120,000 after buying an additional 3,768 shares during the last quarter. Amundi purchased a new position in Progyny during the 4th quarter valued at approximately $102,000. Finally, Covestor Ltd increased its stake in Progyny by 69.4% in the 4th quarter. Covestor Ltd now owns 6,868 shares of the company’s stock worth $118,000 after acquiring an additional 2,814 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PGNY. Leerink Partners upgraded Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research report on Tuesday, July 8th. Canaccord Genuity Group reduced their target price on shares of Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, May 12th. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Monday, March 31st. Finally, Leerink Partnrs raised Progyny from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.09.

Progyny Price Performance

Progyny stock opened at $23.02 on Thursday. The firm has a market capitalization of $1.97 billion, a P/E ratio of 40.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.31. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $30.42. The company’s 50-day moving average is $21.80 and its 200 day moving average is $21.69.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a return on equity of 10.90% and a net margin of 4.33%. The business had revenue of $324.04 million during the quarter, compared to analysts’ expectations of $307.86 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total transaction of $59,037.25. Following the completion of the sale, the director directly owned 14,112 shares of the company’s stock, valued at approximately $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.40% of the company’s stock.

About Progyny

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.