Progyny, Inc. (NASDAQ:PGNY) Given Average Recommendation of “Hold” by Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given a consensus recommendation of “Hold” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.73.

A number of equities analysts recently weighed in on the stock. Leerink Partners lowered their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Truist Financial reduced their price target on Progyny from $33.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Jefferies Financial Group lowered their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling at Progyny

In related news, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction dated 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 directly owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently added to or reduced their stakes in PGNY. Farallon Capital Management LLC raised its stake in Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after purchasing an additional 715,900 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Progyny in the 4th quarter valued at approximately $14,608,000. Norges Bank bought a new stake in shares of Progyny during the 4th quarter worth approximately $14,198,000. Eagle Asset Management Inc. boosted its position in shares of Progyny by 102.7% during the 4th quarter. Eagle Asset Management Inc. now owns 649,897 shares of the company’s stock worth $24,163,000 after acquiring an additional 329,288 shares in the last quarter. Finally, Redmile Group LLC bought a new position in Progyny in the first quarter valued at approximately $12,241,000. Institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $16.33 on Thursday. The stock has a market capitalization of $1.47 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. The company’s 50-day moving average price is $22.20 and its two-hundred day moving average price is $27.57. Progyny has a one year low of $13.93 and a one year 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, meeting the consensus estimate of $0.17. The firm had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, analysts anticipate that Progyny will post 0.64 earnings per share 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.