Jennison Associates LLC Trims Holdings in Progyny, Inc. (NASDAQ:PGNY)

Jennison Associates LLC reduced its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 56.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,972 shares of the company’s stock after selling 663,990 shares during the period. Jennison Associates LLC owned 0.56% of Progyny worth $8,447,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PGNY. International Assets Investment Management LLC lifted its holdings in shares of Progyny by 1,576.0% during the third 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 during the last quarter. Farallon Capital Management LLC increased its position in Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after buying an additional 715,900 shares in the last quarter. Redmile Group LLC bought a new stake in Progyny in the first quarter worth $12,241,000. Dimensional Fund Advisors LP grew its stake in shares of Progyny by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after acquiring an additional 254,725 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Progyny by 77.8% during the second quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock valued at $15,334,000 after acquiring an additional 234,590 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Up 3.1 %

Shares of NASDAQ:PGNY opened at $15.44 on Friday. The stock has a market capitalization of $1.31 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The firm’s 50 day moving average price is $16.40 and its 200-day moving average price is $22.74. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Analysts expect that Progyny, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PGNY shares. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Truist Financial reaffirmed a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Canaccord Genuity Group reduced their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, Leerink Partners lowered their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.42.

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.