Pacer Advisors Inc. Purchases 144,073 Shares of Progyny, Inc. $PGNY

Pacer Advisors Inc. increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 49.4% in the first quarter, Holdings Channel reports. The fund owned 435,558 shares of the company’s stock after purchasing an additional 144,073 shares during the quarter. Pacer Advisors Inc.’s holdings in Progyny were worth $7,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in Progyny by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock valued at $1,549,000 after purchasing an additional 457 shares during the period. Teza Capital Management LLC lifted its position in shares of Progyny by 5.4% in the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock worth $221,000 after purchasing an additional 516 shares during the period. Aristides Capital LLC lifted its position in shares of Progyny by 4.6% in the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock worth $257,000 after purchasing an additional 528 shares during the period. Oxford Asset Management LLP boosted its stake in shares of Progyny by 4.3% during the second quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after purchasing an additional 531 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Progyny by 3.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company’s stock valued at $493,000 after purchasing an additional 637 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

Progyny Price Performance

Shares of Progyny stock opened at $31.37 on Thursday. The firm has a fifty day moving average price of $28.93 and a 200 day moving average price of $23.36. The stock has a market cap of $2.46 billion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $33.06.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The business had revenue of $328.50 million during the quarter, compared to analysts’ expectations of $326.46 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The company’s revenue for the quarter was down 26.4% on a year-over-year basis. As a group, equities analysts expect that Progyny, Inc. will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Progyny news, Director Cheryl Scott sold 7,439 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.39, for a total value of $196,315.21. Following the completion of the transaction, the director owned 19,772 shares in the company, valued at approximately $521,783.08. This represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the sale, the insider directly owned 59,117 shares in the company, valued at approximately $1,512,212.86. The trade was a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 36,916 shares of company stock valued at $939,875. Insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PGNY shares. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Weiss Ratings raised Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Bank of America lifted their price target on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group lifted their price objective on shares of Progyny from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Leerink Partners set a $38.00 target price on Progyny in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Progyny presently has an average rating of “Moderate Buy” and an average target price of $33.25.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.