Progyny (NASDAQ:PGNY) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of Progyny (NASDAQ:PGNY) in a report released on Wednesday morning, Marketbeat.com reports. They currently have a $24.00 price objective on the stock, down from their previous price objective of $37.00.

A number of other brokerages have also weighed in on PGNY. BTIG Research lowered shares of Progyny from a buy rating to a neutral rating in a report on Wednesday. KeyCorp cut Progyny from an overweight rating to a sector weight rating in a report on Friday, May 10th. Truist Financial dropped their price target on Progyny from $46.00 to $37.00 and set a buy rating for the company in a research note on Friday, May 17th. Cantor Fitzgerald restated an overweight rating and issued a $48.00 price objective on shares of Progyny in a report on Thursday, May 16th. Finally, SVB Leerink cut Progyny from an outperform rating to a market perform rating and decreased their target price for the stock from $31.00 to $25.00 in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $34.50.

Progyny Trading Up 3.1 %

NASDAQ PGNY opened at $21.61 on Wednesday. The business’s 50-day moving average price is $27.31 and its 200 day moving average price is $32.12. Progyny has a twelve month low of $19.60 and a twelve month high of $42.08. The company has a market capitalization of $2.06 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.46.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.48%. The business had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. During the same period in the prior year, the firm posted $0.15 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities analysts predict that Progyny will post 0.73 EPS for the current year.

Insider Buying and Selling

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the sale, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the transaction, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Progyny

Several hedge funds and other institutional investors have recently bought and sold shares of PGNY. Parkside Financial Bank & Trust grew its position in shares of Progyny by 9.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock worth $115,000 after buying an additional 264 shares in the last quarter. Caprock Group LLC grew its holdings in Progyny by 5.3% during the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after acquiring an additional 319 shares in the last quarter. M&G Investment Management Ltd. increased its position in shares of Progyny by 1.2% in the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock worth $1,220,000 after purchasing an additional 387 shares during the last quarter. FourThought Financial Partners LLC raised its stake in shares of Progyny by 1.3% in the 4th quarter. FourThought Financial Partners LLC now owns 32,683 shares of the company’s stock valued at $1,215,000 after purchasing an additional 423 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in shares of Progyny by 9.6% during the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after purchasing an additional 474 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other 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.