Bank of America Corp DE Raises Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Bank of America Corp DE grew its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 952,777 shares of the company's stock after buying an additional 33,668 shares during the quarter. Bank of America Corp DE owned 1.12% of Progyny worth $16,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Progyny by 1,355.0% during the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company's stock worth $25,000 after purchasing an additional 1,355 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Progyny by 108.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company's stock worth $51,000 after purchasing an additional 1,526 shares during the last quarter. Caitlin John LLC boosted its holdings in Progyny by 2,974.8% during the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company's stock worth $57,000 after purchasing an additional 3,183 shares during the last quarter. Natixis purchased a new position in Progyny during the fourth quarter worth about $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in Progyny during the fourth quarter worth about $74,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PGNY has been the topic of several analyst reports. BTIG Research upgraded shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price target on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. lifted their price objective on shares of Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Canaccord Genuity Group lowered their price objective on shares of Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Finally, Bank of America lifted their price objective on shares of Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Progyny presently has an average rating of "Hold" and a consensus target price of $23.45.

Progyny Price Performance

PGNY stock traded down $0.37 during trading on Monday, hitting $20.52. 822,500 shares of the stock traded hands, compared to its average volume of 1,712,711. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $30.42. The firm's 50 day moving average is $22.13 and its two-hundred day moving average is $20.01. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.28). The company had revenue of $324.04 million for the quarter, compared to analysts' expectations of $307.86 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business's revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. As a group, analysts anticipate 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.