Progyny, Inc. (NASDAQ:PGNY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $49.43.

PGNY has been the subject of several research analyst reports. BTIG Research initiated coverage on shares of Progyny in a research note on Monday, May 22nd. They set a “buy” rating and a $50.00 target price for the company. Truist Financial boosted their target price on Progyny from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Cantor Fitzgerald boosted their target price on Progyny from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, KeyCorp boosted their target price on Progyny from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 1,170 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $37.27, for a total value of $43,605.90. Following the sale, the director now owns 9,744 shares of the company’s stock, valued at $363,158.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Tpg Gp A, Llc sold 2,900,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $41.08, for a total transaction of $119,132,000.00. Following the completion of the sale, the insider now directly owns 6,350,000 shares of the company’s stock, valued at approximately $260,858,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cheryl Scott sold 1,170 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $37.27, for a total value of $43,605.90. Following the sale, the director now directly owns 9,744 shares of the company’s stock, valued at $363,158.88. The disclosure for this sale can be found here. Insiders have sold a total of 2,997,152 shares of company stock worth $122,897,115 over the last ninety days. Company insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC purchased a new stake in shares of Progyny in the 4th quarter worth $32,000. Headlands Technologies LLC purchased a new stake in shares of Progyny in the 2nd quarter worth $41,000. Park Place Capital Corp lifted its holdings in shares of Progyny by 48.0% in the 1st quarter. Park Place Capital Corp now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 462 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Progyny by 3,119.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,674 shares of the company’s stock worth $50,000 after purchasing an additional 1,622 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its position in shares of Progyny by 130.9% in the 1st quarter. Arcadia Investment Management Corp MI now owns 1,665 shares of the company’s stock worth $53,000 after purchasing an additional 944 shares during the period. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of Progyny stock opened at $34.21 on Friday. The company has a market capitalization of $3.26 billion, a P/E ratio of 69.82, a P/E/G ratio of 1.55 and a beta of 1.51. The company has a fifty day moving average of $38.48 and a 200 day moving average of $36.57. Progyny has a fifty-two week low of $28.03 and a fifty-two week high of $45.98.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Progyny had a net margin of 5.15% and a return on equity of 12.19%. The company had revenue of $279.40 million during the quarter, compared to the consensus estimate of $261.91 million. During the same quarter in the prior year, the firm posted $0.09 EPS. Progyny’s quarterly revenue was up 43.3% compared to the same quarter last year. Analysts forecast that Progyny will post 0.54 EPS for the current year.

About Progyny

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.