Progyny, Inc. (NASDAQ:PGNY) Given Average Rating of “Moderate Buy” by Analysts

Progyny, Inc. (NASDAQ:PGNY) has been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $48.11.

A number of research firms recently issued reports on PGNY. Cantor Fitzgerald lifted their target price on Progyny from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, September 14th. JPMorgan Chase & Co. lowered their target price on Progyny from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, October 9th. Truist Financial increased their price target on Progyny from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, August 11th. KeyCorp increased their price target on Progyny from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Canaccord Genuity Group started coverage on Progyny in a research report on Wednesday, September 27th. They issued a “buy” rating and a $46.00 price target for the company.

Hedge Funds Weigh In On Progyny

Several institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. purchased a new position in Progyny during the 3rd quarter valued at about $778,000. Rice Hall James & Associates LLC grew its stake in Progyny by 27.5% during the 3rd quarter. Rice Hall James & Associates LLC now owns 66,900 shares of the company’s stock valued at $2,276,000 after acquiring an additional 14,417 shares in the last quarter. Principal Financial Group Inc. grew its stake in Progyny by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,230,569 shares of the company’s stock valued at $41,864,000 after acquiring an additional 70,449 shares in the last quarter. Duality Advisers LP purchased a new position in Progyny during the 3rd quarter valued at about $202,000. Finally, Olympiad Research LP purchased a new position in Progyny during the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Up 3.5 %

NASDAQ:PGNY opened at $31.90 on Monday. The business’s 50-day moving average price is $33.97 and its 200 day moving average price is $36.54. The firm has a market cap of $3.04 billion, a P/E ratio of 65.10, a PEG ratio of 1.38 and a beta of 1.53. Progyny has a 52-week low of $28.03 and a 52-week high of $44.95.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $279.40 million for the quarter, compared to analyst estimates of $261.91 million. Progyny had a return on equity of 12.19% and a net margin of 5.15%. Progyny’s revenue was up 43.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. Sell-side analysts expect that Progyny will post 0.53 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.