Louisiana State Employees Retirement System Increases Stake in Progyny, Inc. (NASDAQ:PGNY)

Louisiana State Employees Retirement System grew its position in Progyny, Inc. (NASDAQ:PGNY) by 62.4% during the 3rd quarter, Holdings Channel reports. The fund owned 38,000 shares of the company’s stock after buying an additional 14,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Progyny were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PGNY. International Assets Investment Management LLC boosted its holdings in Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after purchasing an additional 2,412,068 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in shares of Progyny by 30.0% in the 3rd quarter. Cetera Trust Company N.A now owns 7,210 shares of the company’s stock valued at $121,000 after buying an additional 1,665 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Progyny in the third quarter valued at approximately $173,000. Mendota Financial Group LLC acquired a new position in Progyny during the third quarter worth $56,000. Finally, Leibman Financial Services Inc. raised its position in Progyny by 27.4% in the third quarter. Leibman Financial Services Inc. now owns 31,637 shares of the company’s stock worth $530,000 after acquiring an additional 6,805 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PGNY has been the topic of several research analyst reports. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Leerink Partners lowered their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Jefferies Financial Group reduced their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.73.

Progyny Stock Up 4.2 %

Shares of PGNY stock opened at $15.79 on Wednesday. The stock has a 50-day simple moving average of $18.61 and a 200 day simple moving average of $24.30. The stock has a market capitalization of $1.43 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.41 and a beta of 1.44. Progyny, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $42.08.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. On average, sell-side analysts anticipate that Progyny, Inc. will post 0.64 earnings per share for the current year.

About Progyny

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.