Wellington Management Group LLP Boosts Holdings in Progyny, Inc. (NASDAQ:PGNY)

Wellington Management Group LLP grew its position in Progyny, Inc. (NASDAQ:PGNY) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 430,300 shares of the company’s stock after acquiring an additional 16,638 shares during the quarter. Wellington Management Group LLP owned about 0.51% of Progyny worth $7,212,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its position in Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Progyny in the 2nd quarter worth about $44,000. Mendota Financial Group LLC bought a new stake in Progyny during the 3rd quarter valued at about $56,000. 1620 Investment Advisors Inc. purchased a new stake in Progyny in the 2nd quarter valued at about $97,000. Finally, nVerses Capital LLC grew its stake in Progyny by 925.0% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the company’s stock worth $117,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

Progyny stock opened at $14.89 on Tuesday. The business has a fifty day moving average price of $15.51 and a 200-day moving average price of $21.22. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $42.08. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.64 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. Progyny’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, equities research analysts anticipate that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on PGNY shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Canaccord Genuity Group lowered their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Bank of America cut their price target on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Truist Financial reaffirmed a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group cut their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

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.