Progyny (NASDAQ:PGNY) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Progyny (NASDAQ:PGNY) in a report published on Wednesday, Benzinga reports. They currently have a $46.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. KeyCorp lowered their price target on Progyny from $45.00 to $43.00 and set an overweight rating for the company in a research report on Wednesday, February 28th. SVB Leerink began coverage on Progyny in a research note on Monday, February 26th. They set an outperform rating and a $49.00 price objective on the stock. Cantor Fitzgerald restated an overweight rating and set a $48.00 price objective on shares of Progyny in a research note on Wednesday, February 28th. Barclays began coverage on Progyny in a research note on Wednesday, January 3rd. They set an overweight rating and a $48.00 price objective on the stock. Finally, Leerink Partnrs restated an outperform rating on shares of Progyny in a research note on Monday, February 26th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $48.30.

Progyny Trading Down 1.9 %

PGNY stock opened at $32.75 on Wednesday. The stock has a 50-day moving average price of $37.01 and a two-hundred day moving average price of $35.69. Progyny has a 12-month low of $29.44 and a 12-month high of $44.95. The company has a market cap of $3.15 billion, a PE ratio of 52.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.48.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The firm had revenue of $269.94 million during the quarter, compared to the consensus estimate of $274.08 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts forecast that Progyny will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Progyny

In other Progyny news, Chairman David J. Schlanger sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.52, for a total transaction of $37,520.00. Following the sale, the chairman now owns 83,631 shares in the company, valued at $3,137,835.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman David J. Schlanger sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.52, for a total transaction of $37,520.00. Following the completion of the transaction, the chairman now directly owns 83,631 shares of the company’s stock, valued at $3,137,835.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David J. Schlanger sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $38.50, for a total value of $770,000.00. Following the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at $3,323,012. The disclosure for this sale can be found here. Insiders have sold 120,515 shares of company stock worth $4,570,131 over the last quarter. 14.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in shares of Progyny during the first quarter valued at approximately $52,000. Radnor Capital Management LLC grew its holdings in shares of Progyny by 22.4% during the first quarter. Radnor Capital Management LLC now owns 37,220 shares of the company’s stock valued at $1,420,000 after purchasing an additional 6,810 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in shares of Progyny by 11.8% during the first quarter. Congress Asset Management Co. MA now owns 1,009,483 shares of the company’s stock valued at $38,512,000 after purchasing an additional 106,574 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of Progyny by 12.7% during the first quarter. NBC Securities Inc. now owns 25,172 shares of the company’s stock valued at $961,000 after purchasing an additional 2,845 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Progyny by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,270,153 shares of the company’s stock worth $307,484,000 after buying an additional 112,549 shares in the last quarter. 94.93% of the stock is owned by 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.