Progyny, Inc. (NASDAQ:PGNY) Receives $31.90 Consensus Target Price from Analysts

Progyny, Inc. (NASDAQ:PGNY) has been given an average recommendation of “Hold” by the eleven research firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.90.

Several analysts have commented on the company. Barclays lowered their price target on Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 13th. JMP Securities dropped their price target on shares of Progyny from $36.00 to $31.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Leerink Partners lowered shares of Progyny from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $31.00 to $25.00 in a report on Wednesday, August 7th. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Finally, Truist Financial reduced their target price on Progyny from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Insider Activity at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the transaction, the director now owns 10,098 shares in the company, valued at approximately $286,682.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was 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 $10,877,490. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cheryl Scott sold 1,462 shares of the 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 completion of the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of institutional investors have recently made changes to their positions in PGNY. Caprock Group LLC raised its holdings in Progyny by 5.3% in the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after acquiring an additional 319 shares in the last quarter. M&G Investment Management Ltd. raised its stake 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 valued at $1,220,000 after purchasing an additional 387 shares in 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. 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. Finally, State of Michigan Retirement System increased its holdings in Progyny by 2.5% in the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after buying an additional 500 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Stock Down 2.1 %

PGNY opened at $23.19 on Friday. The firm has a market cap of $2.21 billion, a P/E ratio of 38.02, a PEG ratio of 1.90 and a beta of 1.45. The business’s fifty day simple moving average is $25.26 and its 200 day simple moving average is $29.67. Progyny has a 52 week low of $19.60 and a 52 week high of $42.08.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, equities analysts expect that Progyny will post 0.64 EPS for the current fiscal year.

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.