Quest Partners LLC Trims Stake in Progyny, Inc. (NASDAQ:PGNY)

Quest Partners LLC trimmed its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 39.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,292 shares of the company’s stock after selling 6,638 shares during the period. Quest Partners LLC’s holdings in Progyny were worth $172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PEAK6 Investments LLC boosted its holdings in shares of Progyny by 68.1% in the 1st quarter. PEAK6 Investments LLC now owns 10,942 shares of the company’s stock worth $417,000 after purchasing an additional 4,433 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Progyny by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,912 shares of the company’s stock worth $2,095,000 after purchasing an additional 2,947 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Progyny by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 307,909 shares of the company’s stock worth $11,745,000 after purchasing an additional 6,549 shares in the last quarter. Comerica Bank boosted its holdings in shares of Progyny by 5.3% in the 1st quarter. Comerica Bank now owns 67,547 shares of the company’s stock worth $2,577,000 after purchasing an additional 3,428 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new position in shares of Progyny in the 1st quarter worth about $22,608,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and cut their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Barclays cut their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Bank of America cut their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lowered their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Progyny currently has an average rating of “Hold” and an average price target of $25.42.

Progyny Price Performance

PGNY opened at $15.48 on Thursday. The business has a 50 day simple moving average of $16.04 and a two-hundred day simple moving average of $22.40. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.82 and a beta of 1.44. Progyny, Inc. has a one year low of $13.39 and a one year high of $42.08.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts expect that Progyny, Inc. will post 0.58 EPS for the current fiscal year.

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.