Progyny (NASDAQ:PGNY) Coverage Initiated by Analysts at BTIG Research

Stock analysts at BTIG Research began coverage on shares of Progyny (NASDAQ:PGNY – Get Rating) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating and a $50.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 34.66% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Bank of America lifted their price target on Progyny from $48.00 to $50.00 in a research note on Tuesday, May 9th. Cantor Fitzgerald upped their price target on Progyny from $44.00 to $45.00 in a research note on Tuesday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.86.

Progyny Stock Up 4.2 %

Shares of PGNY opened at $37.13 on Monday. Progyny has a 12-month low of $25.67 and a 12-month high of $46.50. The business has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $33.53. The stock has a market cap of $3.51 billion, a PE ratio of 86.35, a PEG ratio of 2.11 and a beta of 1.51.

Progyny (NASDAQ:PGNY – Get Rating) last announced its earnings results on Monday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. The company had revenue of $258.40 million for the quarter, compared to analyst estimates of $246.63 million. Progyny had a return on equity of 11.81% and a net margin of 4.93%. The firm’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 EPS. On average, equities research analysts expect that Progyny will post 0.44 EPS for the current year.

Insider Transactions at Progyny

In other news, CEO Peter Anevski sold 32,000 shares of Progyny stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $36.12, for a total value of $1,155,840.00. Following the sale, the chief executive officer now directly owns 223,901 shares of the company’s stock, valued at $8,087,304.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman David J. Schlanger sold 37,296 shares of Progyny stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $35.01, for a total value of $1,305,732.96. Following the sale, the chairman now directly owns 73,487 shares of the company’s stock, valued at $2,572,779.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Anevski sold 32,000 shares of Progyny stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $36.12, for a total value of $1,155,840.00. Following the completion of the transaction, the chief executive officer now owns 223,901 shares of the company’s stock, valued at approximately $8,087,304.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,826 shares of company stock valued at $12,704,041. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Belpointe Asset Management LLC purchased a new position in shares of Progyny during the fourth quarter valued at approximately $32,000. Park Place Capital Corp boosted its position in shares of Progyny by 48.0% during the first quarter. Park Place Capital Corp now owns 1,424 shares of the company’s stock valued at $46,000 after buying an additional 462 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Progyny by 3,119.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,674 shares of the company’s stock valued at $50,000 after buying an additional 1,622 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of Progyny by 130.9% during the first quarter. Arcadia Investment Management Corp MI now owns 1,665 shares of the company’s stock valued at $53,000 after buying an additional 944 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Progyny by 45.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,763 shares of the company’s stock valued at $54,000 after buying an additional 549 shares during the period. Hedge funds and other institutional investors own 86.12% of the company’s stock.

Progyny Company Profile

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Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.