Progyny, Inc. (NASDAQ:PGNY) Receives $43.11 Consensus Target Price from Brokerages

Progyny, Inc. (NASDAQ:PGNY) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.11.

Several analysts have issued reports on PGNY shares. Barclays dropped their price objective on Progyny from $48.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Truist Financial lowered their target price on Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Progyny in a research note on Thursday, May 16th. SVB Leerink initiated coverage on Progyny in a research note on Monday, February 26th. They set an “outperform” rating and a $49.00 target price on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a research note on Monday, February 26th.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $26.67 on Friday. The stock has a 50 day moving average price of $32.53 and a 200 day moving average price of $35.33. Progyny has a 52 week low of $23.90 and a 52 week high of $44.95. The stock has a market capitalization of $2.54 billion, a PE ratio of 43.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $278.08 million during the quarter, compared to analysts’ expectations of $289.41 million. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, research analysts forecast that Progyny will post 0.69 EPS for the current year.

Insider Buying and Selling at Progyny

In other Progyny news, Chairman David J. Schlanger sold 5,826 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $37.74, for a total value of $219,873.24. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,257,414.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Progyny news, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David J. Schlanger sold 5,826 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the completion of the sale, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,257,414.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,770 shares of company stock valued at $3,853,985. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Progyny

Several hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Progyny by 9.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after acquiring an additional 264 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of Progyny by 5.3% during the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after acquiring an additional 319 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Progyny by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 22,848 shares of the company’s stock valued at $777,000 after acquiring an additional 330 shares in the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Progyny by 54.0% during the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock valued at $40,000 after acquiring an additional 374 shares in the last quarter. Finally, M&G Investment Management Ltd. lifted its holdings in Progyny by 1.2% during the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock worth $1,220,000 after buying an additional 387 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Company 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.