Progyny, Inc. (NASDAQ:PGNY) Position Cut by Arizona State Retirement System

Arizona State Retirement System trimmed its position in Progyny, Inc. (NASDAQ:PGNY) by 6.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,748 shares of the company’s stock after selling 1,508 shares during the period. Arizona State Retirement System’s holdings in Progyny were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Progyny during the 1st quarter valued at approximately $354,000. Oppenheimer Asset Management Inc. raised its stake in shares of Progyny by 18.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company’s stock valued at $775,000 after acquiring an additional 5,459 shares during the last quarter. GAMMA Investing LLC raised its position in Progyny by 233.9% in the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company’s stock worth $120,000 after purchasing an additional 3,768 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Progyny during the 4th quarter valued at $229,000. Finally, Voya Investment Management LLC raised its position in shares of Progyny by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company’s stock valued at $893,000 after acquiring an additional 701 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 2,675 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the sale, the director owned 14,112 shares in the company, valued at $311,451.84. This represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PGNY shares. BTIG Research raised shares of Progyny from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Monday, March 31st. Leerink Partnrs raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 8th. Canaccord Genuity Group reduced their price objective on shares of Progyny from $23.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Leerink Partners upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research note on Tuesday, July 8th. Finally, Truist Financial upped their target price on shares of Progyny from $24.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Progyny currently has an average rating of “Moderate Buy” and a consensus price target of $24.82.

Progyny Stock Up 4.3%

PGNY stock opened at $22.94 on Tuesday. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $29.65. The company has a 50-day simple moving average of $21.81 and a 200 day simple moving average of $21.83. The company has a market capitalization of $1.97 billion, a P/E ratio of 40.25, a PEG ratio of 2.24 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last posted 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 net margin of 4.33% and a return on equity of 10.90%. The business had revenue of $324.04 million for the quarter, compared to analyst estimates of $307.86 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

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.