Entropy Technologies LP Makes New $761,000 Investment in Progyny, Inc. (NASDAQ:PGNY)

Entropy Technologies LP bought a new position in Progyny, Inc. (NASDAQ:PGNY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 45,384 shares of the company’s stock, valued at approximately $761,000. Entropy Technologies LP owned approximately 0.05% of Progyny at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PGNY. Quarry LP increased its stake in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny during the second quarter valued at $44,000. Mendota Financial Group LLC acquired a new stake in Progyny during the third quarter valued at $56,000. Cambridge Trust Co. acquired a new stake in Progyny during the first quarter valued at $95,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Progyny during the second quarter valued at $97,000. 94.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Leerink Partners dropped their price target 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. Truist Financial reaffirmed a “hold” rating and set a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday. Canaccord Genuity Group decreased their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday. Jefferies Financial Group decreased their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Bank of America decreased their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.42.

Progyny Price Performance

NASDAQ PGNY opened at $13.98 on Friday. The firm’s fifty day moving average price is $17.49 and its 200 day moving average price is $23.49. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. Progyny, Inc. has a 12 month low of $13.77 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 10.87%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. As a group, sell-side analysts forecast that Progyny, Inc. will post 0.64 earnings per share for the current 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.