Ontario Teachers Pension Plan Board Reduces Holdings in Progyny, Inc. (NASDAQ:PGNY)

Ontario Teachers Pension Plan Board lowered its position in Progyny, Inc. (NASDAQ:PGNY) by 10.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,122 shares of the company’s stock after selling 1,332 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Progyny were worth $186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PGNY. Quarry LP raised its position in shares of Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Progyny in the 2nd quarter worth approximately $44,000. Cambridge Trust Co. acquired a new position in shares of Progyny during the 1st quarter worth approximately $95,000. Mendota Financial Group LLC purchased a new stake in shares of Progyny in the third quarter valued at approximately $56,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Progyny in the second quarter valued at approximately $97,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Trading Up 3.1 %

Shares of NASDAQ PGNY opened at $15.44 on Friday. The stock has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $22.74. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $42.08. The stock has a market capitalization of $1.31 billion, a PE ratio of 26.62, a PEG ratio of 1.65 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that Progyny, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PGNY shares. Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and dropped their target price for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Bank of America dropped their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Canaccord Genuity Group decreased their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.42.

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.