Geode Capital Management LLC Sells 103,623 Shares of Progyny, Inc. (NASDAQ:PGNY)

Geode Capital Management LLC cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,922,956 shares of the company’s stock after selling 103,623 shares during the quarter. Geode Capital Management LLC owned 2.26% of Progyny worth $32,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN increased its stake in Progyny by 56.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 826,726 shares of the company’s stock worth $13,856,000 after acquiring an additional 298,314 shares during the period. Barclays PLC increased its position in shares of Progyny by 530.4% in the third quarter. Barclays PLC now owns 706,157 shares of the company’s stock worth $11,835,000 after purchasing an additional 594,140 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Progyny in the third quarter worth $469,000. Wellington Management Group LLP raised its stake in Progyny by 4.0% in the third quarter. Wellington Management Group LLP now owns 430,300 shares of the company’s stock valued at $7,212,000 after purchasing an additional 16,638 shares in the last quarter. Finally, Wolverine Trading LLC lifted its position in Progyny by 131.5% during the third quarter. Wolverine Trading LLC now owns 19,677 shares of the company’s stock worth $331,000 after purchasing an additional 11,177 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PGNY shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Bank of America decreased 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. Canaccord Genuity Group reduced their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, 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, September 19th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.00.

Progyny Stock Performance

PGNY stock opened at $14.53 on Thursday. The company has a market capitalization of $1.24 billion, a P/E ratio of 25.05, a PEG ratio of 1.64 and a beta of 1.35. The company has a fifty day moving average price of $15.27 and a 200-day moving average price of $20.63. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 earnings per share. As a group, sell-side analysts forecast that Progyny, Inc. will post 0.59 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.