Disciplined Growth Investors Inc. MN Acquires 298,314 Shares of Progyny, Inc. (NASDAQ:PGNY)

Disciplined Growth Investors Inc. MN increased its stake in Progyny, Inc. (NASDAQ:PGNY) by 56.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 826,726 shares of the company’s stock after acquiring an additional 298,314 shares during the period. Disciplined Growth Investors Inc. MN’s holdings in Progyny were worth $13,856,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its position in Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after acquiring an additional 40,694 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Progyny by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after acquiring an additional 22,012 shares during the period. Kestrel Investment Management Corp bought a new position in shares of Progyny in the 2nd quarter worth $5,005,000. Farallon Capital Management LLC lifted its stake in shares of Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock valued at $16,366,000 after purchasing an additional 132,672 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PGNY. Leerink Partners lowered their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Truist Financial restated a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Canaccord Genuity Group reduced their price target on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Bank of America lowered their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

Progyny Price Performance

Shares of PGNY stock opened at $15.84 on Tuesday. The business has a fifty day moving average of $15.61 and a 200 day moving average of $21.63. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $42.08. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) 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 firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Progyny, Inc. will post 0.59 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.