Progyny, Inc. (NASDAQ:PGNY) Receives Average Rating of “Hold” from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.00.

Several research firms have weighed in on PGNY. Truist Financial reiterated a “hold” rating and set a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Barclays lowered their price target on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group cut their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Canaccord Genuity Group lowered their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Leerink Partners cut their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 19th.

Insider Activity

In other Progyny news, CEO Peter Anevski bought 209,500 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the transaction, the chief executive officer now directly owns 441,463 shares in the company, valued at approximately $6,392,384.24. The trade was a 90.32 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David J. Schlanger bought 150,000 shares of the stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the purchase, the chairman now owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. This represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

A number of hedge funds and other institutional investors have recently modified their holdings of PGNY. Bank of New York Mellon Corp boosted its holdings in shares of Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after acquiring an additional 22,012 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Progyny by 31.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,470 shares of the company’s stock valued at $643,000 after purchasing an additional 5,428 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Progyny by 3.7% during the second quarter. Rhumbline Advisers now owns 261,466 shares of the company’s stock worth $7,481,000 after purchasing an additional 9,364 shares during the last quarter. TD Asset Management Inc bought a new stake in shares of Progyny during the second quarter worth about $1,215,000. Finally, Victory Capital Management Inc. increased its stake in shares of Progyny by 11.4% in the second quarter. Victory Capital Management Inc. now owns 72,301 shares of the company’s stock valued at $2,069,000 after buying an additional 7,375 shares during the period. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of PGNY opened at $18.25 on Friday. The firm has a market cap of $1.55 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31. Progyny has a 52 week low of $13.39 and a 52 week high of $42.08. The firm’s 50-day simple moving average is $15.50 and its 200 day simple moving average is $19.96.

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