Edgestream Partners L.P. Boosts Stake in Progyny, Inc. $PGNY

Edgestream Partners L.P. increased its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 99.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,397 shares of the company’s stock after acquiring an additional 81,004 shares during the quarter. Edgestream Partners L.P. owned about 0.19% of Progyny worth $3,573,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cetera Trust Company N.A boosted its holdings in shares of Progyny by 303.1% during the 2nd quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Progyny in the first quarter valued at approximately $44,000. Militia Capital Partners LP lifted its position in Progyny by 100.0% during the first quarter. Militia Capital Partners LP now owns 2,000 shares of the company’s stock worth $45,000 after buying an additional 1,000 shares in the last quarter. Brooklyn Investment Group boosted its stake in Progyny by 5,216.4% during the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company’s stock worth $72,000 after buying an additional 3,182 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Progyny by 57.9% in the 1st quarter. AlphaQuest LLC now owns 5,668 shares of the company’s stock valued at $127,000 after buying an additional 2,079 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. KeyCorp raised shares of Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Progyny in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Raymond James Financial set a $28.00 price target on shares of Progyny in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.33.

Progyny Price Performance

NASDAQ PGNY opened at $24.55 on Thursday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 38.97, a PEG ratio of 1.96 and a beta of 0.97. The firm’s 50-day moving average is $21.94 and its two-hundred day moving average is $22.20. Progyny, Inc. has a 12 month low of $13.86 and a 12 month high of $27.51.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The business had revenue of $313.35 million for the quarter, compared to the consensus estimate of $299.23 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue was up 9.3% on a year-over-year basis. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. As a group, analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling

In other news, CEO Peter Anevski purchased 79,500 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the purchase, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark S. Livingston sold 21,303 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.50, for a total value of $543,226.50. Following the transaction, the chief financial officer owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.40% of the stock is owned by insiders.

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.