State of Wyoming Takes Position in Progyny, Inc. $PGNY

State of Wyoming bought a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,791 shares of the company’s stock, valued at approximately $830,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Progyny during the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its stake in shares of Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after buying an additional 742 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Progyny in the second quarter worth $77,000. Quarry LP raised its holdings in Progyny by 2,004.1% during the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after buying an additional 3,427 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Progyny during the 4th quarter valued at $94,000. 94.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Mark S. Livingston sold 8,275 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total value of $211,012.50. Following the completion of the sale, the chief financial officer directly owned 79,063 shares of the company’s stock, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Melissa B. Cummings sold 9,578 shares of Progyny stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total transaction of $239,450.00. Following the sale, the chief operating officer directly owned 73,371 shares in the company, valued at $1,834,275. The trade was a 11.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 36,916 shares of company stock worth $939,875. Company insiders own 9.90% of the company’s stock.

Progyny Stock Up 1.5%

NASDAQ:PGNY opened at $26.28 on Friday. The firm’s fifty day simple moving average is $29.16 and its 200 day simple moving average is $23.47. The stock has a market cap of $2.02 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.01. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06.

Progyny declared that its board has authorized a share repurchase program on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PGNY shares. Barclays cut their price target on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Weiss Ratings raised shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Bank of America raised their target price on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. KeyCorp boosted their price target on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Leerink Partners set a $38.00 price target on Progyny in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Progyny presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

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.