Public Sector Pension Investment Board Takes Position in Progyny, Inc. (NASDAQ:PGNY)

Public Sector Pension Investment Board acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 166,600 shares of the company’s stock, valued at approximately $2,792,000. Public Sector Pension Investment Board owned about 0.18% of Progyny as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PGNY. Quarry LP raised its stake in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progyny during the second quarter valued at $44,000. Mendota Financial Group LLC purchased a new stake in Progyny during the third quarter valued at $56,000. Meeder Asset Management Inc. bought a new position in Progyny in the third quarter valued at about $77,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Progyny in the second quarter worth about $97,000. Institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PGNY shares. Jefferies Financial Group lowered their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group cut shares of Progyny from a “buy” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price objective (down from $22.00) on shares of Progyny in a research note on Monday. Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Truist Financial restated a “hold” rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.00.

Progyny Trading Down 4.7 %

NASDAQ:PGNY opened at $14.85 on Wednesday. The stock has a 50-day moving average price of $15.79 and a 200 day moving average price of $22.07. The stock has a market capitalization of $1.26 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.80 and a beta of 1.35. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the business earned $0.16 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts predict that Progyny, Inc. will post 0.58 earnings per share 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.