Progyny, Inc. (NASDAQ:PGNY) Receives $25.00 Average Price Target from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY) have received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.00.

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Leerink Partners lowered their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Finally, Bank of America decreased 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.

Progyny Trading Up 4.4 %

NASDAQ PGNY opened at $18.25 on Friday. Progyny has a 12 month low of $13.39 and a 12 month high of $42.08. The stock has a 50-day simple moving average of $15.50 and a 200 day simple moving average of $19.96. The company has a market capitalization of $1.55 billion, a PE ratio of 31.47, a P/E/G ratio of 1.64 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same period last year, the company earned $0.16 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Progyny will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In related news, Chairman David J. Schlanger bought 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter Anevski purchased 209,500 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the purchase, the chief executive officer now owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This represents a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Arizona State Retirement System increased its stake in shares of Progyny by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Progyny by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after purchasing an additional 787 shares during the period. Quarry LP increased its position in Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after buying an additional 836 shares during the last quarter. GAMMA Investing LLC raised its stake in Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after buying an additional 1,246 shares during the period. Finally, Creative Planning boosted its stake in shares of Progyny by 13.8% during the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock worth $302,000 after acquiring an additional 1,283 shares during the period. 94.93% of the stock is owned by institutional investors.

About Progyny

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.