Insider Buying: Progyny, Inc. (NASDAQ:PGNY) Chairman Acquires $2,202,000.00 in Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger purchased 150,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This trade represents a 191.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Progyny Stock Performance

PGNY opened at $16.90 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of 29.14, a PEG ratio of 1.64 and a beta of 1.35. The company has a 50-day moving average of $15.23 and a 200-day moving average of $20.46. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PGNY shares. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Canaccord Genuity Group cut their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Bank of America reduced their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 target price (down previously from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Finally, Leerink Partners decreased their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

Hedge Funds Weigh In On Progyny

Large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Progyny by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after acquiring an additional 787 shares during the period. Quarry LP lifted its holdings in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after acquiring an additional 836 shares during the last quarter. Creative Planning boosted its stake in Progyny by 13.8% in the second quarter. Creative Planning now owns 10,564 shares of the company’s stock valued at $302,000 after acquiring an additional 1,283 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Progyny during the second quarter valued at approximately $44,000. 94.93% of the stock is currently 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.