Canaccord Genuity Group Increases Progyny (NASDAQ:PGNY) Price Target to $23.00

Progyny (NASDAQ:PGNY) had its target price boosted by Canaccord Genuity Group from $17.00 to $23.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

PGNY has been the subject of several other research reports. Truist Financial restated a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Barclays dropped their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. upped their target price on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Bank of America upped their target price on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.82.

Progyny Price Performance

PGNY stock opened at $22.53 on Friday. The company has a 50 day moving average price of $20.68 and a 200 day moving average price of $18.69. Progyny has a fifty-two week low of $13.39 and a fifty-two week high of $38.98. The stock has a market capitalization of $1.92 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 2.39 and a beta of 1.34.

Insider Activity

In other news, CEO Peter Anevski purchased 209,500 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction that occurred on Thursday, December 26th. The stock was bought 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 owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Progyny

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Signaturefd LLC boosted its stake in Progyny by 1,355.0% in the 4th quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $25,000 after purchasing an additional 1,355 shares during the period. GAMMA Investing LLC boosted its stake in Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after purchasing an additional 1,246 shares during the period. Nisa Investment Advisors LLC boosted its stake in Progyny by 108.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock worth $51,000 after purchasing an additional 1,526 shares during the period. Caitlin John LLC boosted its stake in Progyny by 2,974.8% in the 4th quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock worth $57,000 after purchasing an additional 3,183 shares during the period. Finally, Natixis acquired a new position in Progyny in the 4th quarter worth $69,000. 94.93% of the stock is owned by institutional investors and hedge funds.

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.