Progyny, Inc. (NASDAQ:PGNY) Given Consensus Recommendation of “Buy” by Analysts

Progyny, Inc. (NASDAQ:PGNY) has been given an average recommendation of “Buy” by the ten brokerages that are covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $48.30.

Several research analysts have commented on the stock. Barclays started coverage on shares of Progyny in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $48.00 price objective for the company. KeyCorp reduced their price objective on Progyny from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 target price on shares of Progyny in a research note on Wednesday, February 28th. SVB Leerink began coverage on shares of Progyny in a research note on Monday, February 26th. They issued an “outperform” rating and a $49.00 price target on the stock. Finally, 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.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $32.04 on Monday. The stock has a market capitalization of $3.08 billion, a PE ratio of 51.68, a P/E/G ratio of 1.32 and a beta of 1.48. Progyny has a fifty-two week low of $29.44 and a fifty-two week high of $44.95. The business has a fifty day moving average price of $35.84 and a two-hundred day moving average price of $35.64.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 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 during the quarter, compared to the consensus estimate of $274.08 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Progyny’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities analysts expect that Progyny will post 0.7 EPS for the current year.

Insider Buying and Selling at Progyny

In other Progyny news, Chairman David J. Schlanger sold 20,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $38.50, for a total value of $770,000.00. Following the sale, the chairman now owns 86,312 shares in the company, valued at approximately $3,323,012. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Michael E. Sturmer sold 2,260 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the transaction, the president now owns 158,532 shares in the company, valued at $6,341,280. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David J. Schlanger sold 20,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the sale, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,323,012. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,515 shares of company stock worth $4,570,131. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC increased its holdings in Progyny by 54.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock worth $40,000 after purchasing an additional 374 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Progyny in the 1st quarter valued at $52,000. Acadian Asset Management LLC bought a new stake in shares of Progyny in the 3rd quarter valued at $53,000. Parkside Financial Bank & Trust lifted its position in shares of Progyny by 9.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after acquiring an additional 264 shares during the period. Finally, CWM LLC boosted its stake in Progyny by 16.1% during the third quarter. CWM LLC now owns 3,490 shares of the company’s stock worth $119,000 after acquiring an additional 483 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

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.