Jennison Associates LLC Sells 663,990 Shares of Progyny, Inc. (NASDAQ:PGNY)

Jennison Associates LLC cut its position in Progyny, Inc. (NASDAQ:PGNY) by 56.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,972 shares of the company’s stock after selling 663,990 shares during the period. Jennison Associates LLC’s holdings in Progyny were worth $8,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Progyny by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock worth $317,097,000 after buying an additional 41,687 shares during the period. International Assets Investment Management LLC lifted its position in shares of Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after acquiring an additional 2,412,068 shares in the last quarter. Farallon Capital Management LLC grew its position in shares of Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Progyny by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock valued at $36,676,000 after purchasing an additional 254,725 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Progyny by 15.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after purchasing an additional 132,672 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PGNY shares. Leerink Partners cut their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Barclays dropped their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Progyny presently has an average rating of “Hold” and an average target price of $25.42.

Progyny Stock Up 3.1 %

Shares of PGNY opened at $15.44 on Friday. The business has a fifty day moving average of $16.40 and a 200 day moving average of $22.74. The company has a market cap of $1.31 billion, a PE ratio of 26.62, a P/E/G ratio of 1.65 and a beta of 1.44. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data 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 firm had revenue of $286.63 million during 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 previous year, the business earned $0.16 EPS. As a group, research analysts anticipate that Progyny, Inc. will post 0.56 earnings per share 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.