Meeder Asset Management Inc. Acquires Shares of 4,575 Progyny, Inc. (NASDAQ:PGNY)

Meeder Asset Management Inc. bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the 3rd quarter, HoldingsChannel reports. The fund bought 4,575 shares of the company’s stock, valued at approximately $77,000.

Several other large investors also recently modified their holdings of the stock. RiverPark Advisors LLC grew its holdings in shares of Progyny by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after purchasing an additional 474 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Progyny by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Progyny by 1.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after purchasing an additional 787 shares in the last quarter. Quarry LP grew its holdings in shares of Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Progyny by 13.8% during the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock worth $302,000 after purchasing an additional 1,283 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Canaccord Genuity Group reduced their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Leerink Partners reduced their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. Finally, Bank of America reduced their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Progyny has an average rating of “Hold” and an average target price of $25.42.

Progyny Price Performance

Shares of PGNY opened at $13.98 on Thursday. The business has a 50-day moving average of $16.74 and a 200-day moving average of $22.92. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $42.08. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same period in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Progyny, Inc. will post 0.64 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.