Progyny, Inc. $PGNY Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its holdings in Progyny, Inc. (NASDAQ:PGNY) by 84.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,275 shares of the company’s stock after selling 207,934 shares during the quarter. Janus Henderson Group PLC owned 0.05% of Progyny worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after buying an additional 1,621,688 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Progyny by 46.9% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after acquiring an additional 859,289 shares during the period. Loomis Sayles & Co. L P purchased a new position in Progyny in the fourth quarter worth $19,917,000. Ameriprise Financial Inc. raised its position in Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after acquiring an additional 545,431 shares in the last quarter. Finally, Norges Bank acquired a new stake in Progyny in the fourth quarter valued at $10,167,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Ratings Changes

PGNY has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Progyny from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Barclays reissued an “equal weight” rating and set a $34.00 price objective (up from $27.00) on shares of Progyny in a report on Tuesday, July 28th. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Bank of America lifted their price target on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings raised Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Insider Buying and Selling at Progyny

In other Progyny news, CFO Mark S. Livingston sold 8,275 shares of Progyny stock in a transaction that occurred on 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. The trade was a 9.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the completion of the transaction, the insider owned 59,117 shares of the company’s stock, valued at $1,512,212.86. This trade represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 36,916 shares of company stock worth $939,875. 9.90% of the stock is currently owned by insiders.

Progyny Trading Down 0.9%

Shares of PGNY opened at $27.85 on Tuesday. The stock has a market cap of $2.18 billion, a P/E ratio of 30.27, a PEG ratio of 2.23 and a beta of 1.01. The company has a 50-day moving average of $29.11 and a two-hundred day moving average of $23.44. Progyny, Inc. has a 12-month low of $16.10 and a 12-month high of $33.06.

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

About Progyny

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.