Progyny, Inc. (NASDAQ:PGNY) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in Progyny, Inc. (NASDAQ:PGNY) by 72.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,082 shares of the company’s stock after buying an additional 29,074 shares during the quarter. Edgestream Partners L.P. owned approximately 0.08% of Progyny worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PGNY. Pacer Advisors Inc. lifted its stake in Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after purchasing an additional 2,412,068 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Progyny by 120.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Progyny by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after purchasing an additional 254,725 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Progyny by 77.8% in the 2nd quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock worth $15,334,000 after purchasing an additional 234,590 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America decreased their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Barclays decreased their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Leerink Partners decreased 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. Jefferies Financial Group cut their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Progyny has an average rating of “Hold” and an average price target of $25.00.

Progyny Stock Performance

Progyny stock opened at $14.88 on Thursday. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The firm has a 50 day moving average price of $15.74 and a 200 day moving average price of $21.98. The company has a market capitalization of $1.27 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.80 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $296.85 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Progyny, Inc. will post 0.58 earnings per share for the current 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.