Progyny (NASDAQ:PGNY) Stock Price Expected to Rise, Bank of America Analyst Says

Progyny (NASDAQ:PGNY) had its price target lifted by Bank of America from $21.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Truist Financial reissued a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Barclays lowered 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. JPMorgan Chase & Co. raised their price objective on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group lowered their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.83.

Progyny Trading Up 0.2 %

PGNY stock opened at $22.39 on Tuesday. The firm has a 50 day simple moving average of $18.62 and a 200-day simple moving average of $18.81. The company has a market capitalization of $1.91 billion, a P/E ratio of 38.60, a PEG ratio of 2.18 and a beta of 1.34. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08.

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

Insiders Place Their Bets

In other Progyny news, Chairman David J. Schlanger acquired 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. This represents a 191.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Anevski bought 209,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the transaction, the chief executive officer now owns 441,463 shares in the company, valued at $6,392,384.24. This trade 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 owned by insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors have recently bought and sold shares of PGNY. Leibman Financial Services Inc. raised its position in shares of Progyny by 100.7% during the 4th quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company’s stock worth $1,096,000 after buying an additional 31,872 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Progyny by 90.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after acquiring an additional 695,740 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after purchasing an additional 132,672 shares in the last quarter. Aurora Investment Counsel acquired a new stake in Progyny in the third quarter worth approximately $1,280,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Progyny in the fourth quarter worth approximately $989,000. 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.