Natixis Advisors LLC Raises Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Natixis Advisors LLC lifted its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 40.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,765 shares of the company’s stock after acquiring an additional 9,184 shares during the quarter. Natixis Advisors LLC’s holdings in Progyny were worth $710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis purchased a new stake in shares of Progyny during the fourth quarter valued at approximately $69,000. Covestor Ltd increased its position in shares of Progyny by 69.4% during the fourth quarter. Covestor Ltd now owns 6,868 shares of the company’s stock valued at $118,000 after acquiring an additional 2,814 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 3,768 shares during the last quarter. State of Wyoming increased its position in shares of Progyny by 98.2% during the fourth quarter. State of Wyoming now owns 12,376 shares of the company’s stock valued at $213,000 after acquiring an additional 6,132 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Progyny during the fourth quarter valued at approximately $229,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Price Performance

Progyny stock opened at $22.85 on Monday. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76. The business has a fifty day moving average price of $22.32 and a 200-day moving average price of $22.18. The firm has a market capitalization of $1.96 billion, a P/E ratio of 38.73, a PEG ratio of 2.29 and a beta of 1.32.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%. The company had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same period in the previous year, the business earned $0.17 earnings per share. Progyny’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Progyny

In related news, Director Cheryl Scott sold 2,675 shares of the stock in a transaction 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 approximately $311,451.84. This trade represents a 15.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PGNY. Truist Financial increased their price objective on Progyny from $24.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Raymond James Financial set a $28.00 price objective on Progyny in a report on Friday. Cantor Fitzgerald increased their price objective on Progyny from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Friday. Leerink Partners raised Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Progyny from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.90.

Progyny 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.