Progyny, Inc. (NASDAQ:PGNY) Receives $48.30 Consensus Price Target from Analysts

Progyny, Inc. (NASDAQ:PGNY) has received an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $48.30.

A number of equities analysts have recently issued reports on PGNY shares. Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. SVB Leerink began coverage on shares of Progyny in a research report on Monday, February 26th. They set an “outperform” rating and a $49.00 target price for the company. Truist Financial reiterated a “buy” rating and set a $46.00 price objective on shares of Progyny in a research report on Wednesday, April 17th. Finally, KeyCorp cut their price objective on shares of Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th.

Insider Buying and Selling

In other news, President Michael E. Sturmer sold 4,515 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now directly owns 380,038 shares in the company, valued at approximately $12,142,214.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman David J. Schlanger sold 1,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the sale, the chairman now directly owns 83,631 shares in the company, valued at approximately $3,137,835.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Michael E. Sturmer sold 4,515 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now owns 380,038 shares in the company, valued at approximately $12,142,214.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,030 shares of company stock valued at $4,714,385. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progyny

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in shares of Progyny by 16.1% during the third quarter. CWM LLC now owns 3,490 shares of the company’s stock valued at $119,000 after purchasing an additional 483 shares during the period. State of Alaska Department of Revenue increased its stake in Progyny by 4.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,931 shares of the company’s stock worth $337,000 after buying an additional 450 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Progyny by 27.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,752 shares of the company’s stock worth $1,829,000 after buying an additional 11,726 shares in the last quarter. Xponance Inc. boosted its position in Progyny by 3.6% in the 3rd quarter. Xponance Inc. now owns 11,629 shares of the company’s stock valued at $396,000 after buying an additional 399 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Progyny by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 769,262 shares of the company’s stock valued at $26,170,000 after acquiring an additional 20,182 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Stock Performance

NASDAQ PGNY opened at $31.72 on Monday. Progyny has a one year low of $29.44 and a one year high of $44.95. The firm’s fifty day moving average is $35.24 and its two-hundred day moving average is $35.58. The firm has a market cap of $3.05 billion, a PE ratio of 51.16, a P/E/G ratio of 1.34 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last released its 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 business had revenue of $269.94 million for the quarter, compared to analyst estimates of $274.08 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts predict that Progyny will post 0.7 earnings per share for the current year.

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.