D. E. Shaw & Co. Inc. Buys Shares of 653,066 Progyny, Inc. (NASDAQ:PGNY)

D. E. Shaw & Co. Inc. acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 653,066 shares of the company's stock, valued at approximately $11,265,000. D. E. Shaw & Co. Inc. owned about 0.77% of Progyny at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. River Road Asset Management LLC bought a new position in shares of Progyny during the fourth quarter valued at $25,529,000. Pacer Advisors Inc. increased its position in Progyny by 47.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company's stock valued at $63,414,000 after acquiring an additional 1,183,558 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Progyny by 90.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company's stock valued at $25,319,000 after acquiring an additional 695,740 shares during the last quarter. Barclays PLC increased its position in Progyny by 95.7% during the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company's stock valued at $23,843,000 after acquiring an additional 676,048 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Progyny during the fourth quarter valued at $10,557,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America upped their price target on Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. BTIG Research upgraded Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price for the company in a research report on Monday, March 31st. Canaccord Genuity Group cut their target price on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. increased their target price on Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.45.

Progyny Stock Up 1.6%

Progyny stock traded up $0.35 during midday trading on Friday, reaching $22.30. 1,167,007 shares of the stock traded hands, compared to its average volume of 1,713,249. The stock has a market cap of $1.91 billion, a P/E ratio of 38.45, a PEG ratio of 2.39 and a beta of 1.37. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $30.42. The stock's fifty day moving average is $22.08 and its 200-day moving average is $19.73.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.28). The company had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny's revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. On average, equities analysts predict that Progyny, Inc. will post 0.6 EPS 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.