40,008 Shares in Progyny, Inc. (NASDAQ:PGNY) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in Progyny, Inc. (NASDAQ:PGNY) in the second quarter, HoldingsChannel.com reports. The firm acquired 40,008 shares of the company’s stock, valued at approximately $1,145,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC raised its holdings in Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after acquiring an additional 319 shares during the last quarter. RiverPark Advisors LLC raised its holdings in Progyny by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after acquiring an additional 474 shares during the last quarter. State of Michigan Retirement System raised its holdings in Progyny by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock worth $781,000 after acquiring an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Progyny by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after acquiring an additional 543 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Progyny by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after acquiring an additional 609 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $16.62 on Friday. The company has a market cap of $1.50 billion, a P/E ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45. Progyny, Inc. has a 1 year low of $13.93 and a 1 year high of $42.08. The firm has a 50-day simple moving average of $24.33 and a two-hundred day simple moving average of $28.78.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, equities research analysts expect that Progyny, Inc. will post 0.64 EPS for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PGNY. Cantor Fitzgerald decreased their price objective on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday. Leerink Partners dropped their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group dropped their price target on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.73.

Progyny Company 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.