Baillie Gifford & Co. Has $28.51 Million Stock Position in Progyny, Inc. (NASDAQ:PGNY)

Key Points

• Baillie Gifford & Co. has reduced its holdings in Progyny, Inc. by 4.2%, now owning approximately 1.49% of the company, valued at around $28.5 million.
• Progyny has reported earnings per share of $0.17 for the last quarter, missing estimates by $0.28, while its revenue increased by 16.5% year-over-year.
• Several brokerages have recently updated their ratings on Progyny, with Truist Financial raising their target price to $27 and multiple firms maintaining "hold" or upgrading to "buy" ratings.

Baillie Gifford & Co. cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,276,167 shares of the company's stock after selling 56,523 shares during the period. Baillie Gifford & Co. owned 1.49% of Progyny worth $28,510,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of Progyny by 0.7% in the first quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock worth $1,635,000 after acquiring an additional 500 shares during the period. Voya Investment Management LLC grew its stake in shares of Progyny by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock valued at $893,000 after buying an additional 701 shares during the period. F M Investments LLC grew its stake in shares of Progyny by 13.0% in the 4th quarter. F M Investments LLC now owns 20,420 shares of the company's stock valued at $352,000 after buying an additional 2,342 shares during the period. First Trust Advisors LP grew its stake in shares of Progyny by 13.1% in the 4th quarter. First Trust Advisors LP now owns 24,105 shares of the company's stock valued at $416,000 after buying an additional 2,794 shares during the period. Finally, Covestor Ltd boosted its position in shares of Progyny by 69.4% during the 4th quarter. Covestor Ltd now owns 6,868 shares of the company's stock worth $118,000 after purchasing an additional 2,814 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PGNY has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their price objective on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Wall Street Zen raised shares of Progyny from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial raised their price target on shares of Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Leerink Partners raised shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target for the company in a research report on Tuesday, July 8th. Finally, Leerink Partnrs raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.82.

Progyny Stock Up 2.7%

Shares of Progyny stock traded up $0.62 during trading on Wednesday, hitting $23.45. The stock had a trading volume of 158,728 shares, compared to its average volume of 1,434,372. The stock has a 50 day simple moving average of $21.98 and a 200 day simple moving average of $22.05. The company has a market capitalization of $2.01 billion, a PE ratio of 41.09, a P/E/G ratio of 2.33 and a beta of 1.31. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $28.99.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a return on equity of 10.90% and a net margin of 4.33%. The business had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business's revenue was up 16.5% on a year-over-year basis. As a group, equities analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the sale, the director owned 14,112 shares of the company's stock, valued at approximately $311,451.84. This represents a 15.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is owned by company insiders.

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.