JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Progyny (NASDAQ:PGNY) Stock

Progyny (NASDAQ:PGNY) had its price target lifted by JPMorgan Chase & Co. from $17.00 to $23.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research analysts have also recently commented on the stock. Bank of America lowered their price target on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Barclays decreased their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Canaccord Genuity Group dropped their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.50.

Progyny Trading Up 1.2 %

Progyny stock opened at $23.54 on Tuesday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 40.59, a P/E/G ratio of 2.32 and a beta of 1.31. The stock’s fifty day simple moving average is $17.46 and its 200-day simple moving average is $19.27. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. Sell-side analysts predict that Progyny will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Peter Anevski purchased 209,500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the purchase, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. The trade was a 90.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David J. Schlanger acquired 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the purchase, the chairman now directly owns 228,269 shares in the company, valued at $3,350,988.92. This represents a 191.65 % 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 corporate insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently made changes to their positions in the business. Entropy Technologies LP lifted its holdings in shares of Progyny by 5.5% in the fourth quarter. Entropy Technologies LP now owns 47,883 shares of the company’s stock valued at $826,000 after purchasing an additional 2,499 shares in the last quarter. Caitlin John LLC increased its position in Progyny by 2,974.8% during the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock worth $57,000 after buying an additional 3,183 shares in the last quarter. Vanderbilt University acquired a new position in shares of Progyny in the fourth quarter worth $254,000. Guidance Capital Inc. purchased a new stake in shares of Progyny in the fourth quarter valued at $380,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Progyny by 47.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock valued at $63,414,000 after acquiring an additional 1,183,558 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.