Progyny, Inc. (NASDAQ:PGNY) Shares Bought by Farallon Capital Management LLC

Farallon Capital Management LLC raised its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 120.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,308,500 shares of the company’s stock after purchasing an additional 715,900 shares during the quarter. Farallon Capital Management LLC’s holdings in Progyny were worth $37,436,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PGNY. Vanguard Group Inc. boosted its stake in shares of Progyny by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock worth $317,097,000 after acquiring an additional 41,687 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Progyny by 2.7% in the 1st quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after purchasing an additional 67,632 shares during the period. Principal Financial Group Inc. increased its stake in Progyny by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company’s stock worth $53,437,000 after purchasing an additional 42,302 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Progyny by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after buying an additional 254,725 shares during the period. Finally, Congress Asset Management Co. MA lifted its stake in Progyny by 11.8% during the first quarter. Congress Asset Management Co. MA now owns 1,009,483 shares of the company’s stock valued at $38,512,000 after buying an additional 106,574 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PGNY. Cantor Fitzgerald cut their price target on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Leerink Partners cut their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Truist Financial dropped their price target on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.73.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction dated 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 owns 10,098 shares in the company, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares in the company, valued at $10,877,490. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by corporate insiders.

Progyny Stock Up 3.4 %

NASDAQ:PGNY opened at $17.19 on Tuesday. The company’s 50 day moving average is $23.85 and its 200-day moving average is $28.45. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 1.97 and a beta of 1.45. Progyny, Inc. has a 12 month low of $13.93 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Research analysts predict that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

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.