Free Trial

Progyny, Inc. (NASDAQ:PGNY) Position Reduced by Bank of New York Mellon Corp

Progyny logo with Medical background

Bank of New York Mellon Corp lowered its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 507,358 shares of the company's stock after selling 32,714 shares during the period. Bank of New York Mellon Corp owned about 0.59% of Progyny worth $11,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PGNY. Signaturefd LLC raised its position in shares of Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company's stock valued at $25,000 after buying an additional 1,355 shares during the last quarter. Natixis acquired a new position in shares of Progyny in the fourth quarter valued at approximately $69,000. GAMMA Investing LLC raised its position in shares of Progyny by 233.9% in the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock valued at $120,000 after buying an additional 3,768 shares during the last quarter. Amundi acquired a new position in shares of Progyny in the fourth quarter valued at approximately $102,000. Finally, Covestor Ltd raised its position in shares of Progyny by 69.4% in the fourth quarter. Covestor Ltd now owns 6,868 shares of the company's stock valued at $118,000 after buying an additional 2,814 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company's stock.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director directly owned 14,112 shares in the company, valued at approximately $311,451.84. This represents a 15.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.40% of the company's stock.

Progyny Trading Down 2.0%

PGNY traded down $0.46 during trading on Thursday, hitting $23.00. 922,576 shares of the company's stock were exchanged, compared to its average volume of 1,117,250. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $29.65. The stock has a 50 day moving average price of $21.91 and a 200 day moving average price of $21.92. The firm has a market cap of $1.97 billion, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PGNY shares. BTIG Research upgraded shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price for the company in a report on Monday, March 31st. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price for the company in a report on Tuesday, July 8th. Canaccord Genuity Group lowered their target price on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a report on Monday, May 12th. Finally, Truist Financial set a $27.00 target price on shares of Progyny and gave the company a "hold" rating in a report on Thursday, July 17th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.82.

View Our Latest Stock Report on Progyny

Progyny Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Progyny (NASDAQ:PGNY)

Should You Invest $1,000 in Progyny Right Now?

Before you consider Progyny, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Progyny wasn't on the list.

While Progyny currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2025 Cover

Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines