Edgestream Partners L.P. Purchases Shares of 40,008 Progyny, Inc. (NASDAQ:PGNY)

Edgestream Partners L.P. purchased a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,008 shares of the company’s stock, valued at approximately $1,145,000.

Other large investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. purchased a new stake in Progyny during the first quarter valued at about $42,000. Financial Management Professionals Inc. purchased a new position in shares of Progyny in the first quarter worth about $52,000. Cambridge Trust Co. purchased a new position in shares of Progyny in the first quarter worth about $95,000. Natixis Investment Managers International purchased a new position in shares of Progyny in the first quarter worth about $117,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Progyny in the second quarter worth about $97,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Progyny stock opened at $16.62 on Friday. The stock’s 50 day simple moving average is $24.33 and its two-hundred day simple moving average is $28.78. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45. Progyny, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $42.08.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. On average, analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current year.

Insider Buying and Selling at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the sale, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the sale, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PGNY shares. Cantor Fitzgerald decreased their price objective on Progyny from $37.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial decreased their price objective on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group decreased their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Friday. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Progyny presently has a consensus rating of “Hold” and an average 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.