Progyny, Inc. (NASDAQ:PGNY) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 756,228 shares of the company’s stock after purchasing an additional 22,012 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of Progyny worth $21,636,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Nordea Investment Management AB raised its position in Progyny by 122.2% in the first quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after acquiring an additional 69,552 shares in the last quarter. Vitruvian Partners LLP purchased a new stake in Progyny during the fourth quarter worth about $2,957,000. Jennison Associates LLC increased its holdings in Progyny by 2.7% in the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after buying an additional 67,632 shares in the last quarter. M&G Plc acquired a new stake in shares of Progyny during the 1st quarter valued at approximately $1,156,000. Finally, Neuberger Berman Group LLC boosted its stake in shares of Progyny by 13.6% during the 4th quarter. Neuberger Berman Group LLC now owns 274,409 shares of the company’s stock worth $10,203,000 after acquiring an additional 32,871 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at $286,682.22. The sale was disclosed in a filing with the SEC, which is available at this link. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the transaction, the director now owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction dated 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 sale, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Progyny Trading Down 0.4 %

Shares of NASDAQ:PGNY opened at $23.69 on Friday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 1.90 and a beta of 1.45. Progyny, Inc. has a 12-month low of $19.60 and a 12-month high of $42.08. The stock’s 50-day moving average price is $25.37 and its two-hundred day moving average price is $29.86.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) 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 analysts’ expectations of $305.32 million. During the same period in the previous year, the company earned $0.15 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts forecast that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PGNY. Truist Financial decreased their price objective on shares of Progyny from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Progyny from $41.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. KeyCorp cut Progyny from an “overweight” rating to a “sector weight” rating in a report on Friday, May 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $37.00 price objective on shares of Progyny in a research report on Tuesday, August 20th. Finally, Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Progyny currently has a consensus rating of “Hold” and an average target price of $31.90.

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.