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

Shares of Progyny, Inc. (NASDAQ:PGNY) have earned an average rating of “Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $48.30.

Several equities analysts have commented on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a research report on Monday, February 26th. KeyCorp decreased their price objective on Progyny from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. SVB Leerink initiated coverage on Progyny in a research report on Monday, February 26th. They set an “outperform” rating and a $49.00 target price on the stock. Truist Financial restated a “buy” rating and issued a $46.00 price target on shares of Progyny in a research report on Wednesday, April 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th.

Progyny Stock Down 1.4 %

Shares of Progyny stock opened at $32.04 on Monday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 51.68, a PEG ratio of 1.32 and a beta of 1.48. Progyny has a twelve month low of $29.44 and a twelve month high of $44.95. The business has a 50-day moving average price of $35.84 and a 200-day moving average price of $35.64.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. On average, equities analysts expect that Progyny will post 0.7 EPS for the current fiscal year.

Insider Transactions at Progyny

In related news, Chairman David J. Schlanger sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.52, for a total transaction of $37,520.00. Following the completion of the transaction, the chairman now owns 83,631 shares in the company, valued at approximately $3,137,835.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Progyny news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the transaction, the chairman now owns 83,631 shares of the company’s stock, valued at $3,137,835.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman David J. Schlanger sold 20,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the sale, the chairman now directly owns 86,312 shares in the company, valued at $3,323,012. The disclosure for this sale can be found here. In the last three months, insiders sold 120,515 shares of company stock valued at $4,570,131. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

A number of institutional investors and hedge funds have recently modified their holdings of PGNY. Vanguard Group Inc. raised its position in Progyny by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,270,153 shares of the company’s stock worth $307,484,000 after buying an additional 112,549 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Progyny by 352,414.2% in the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock worth $218,485,000 after acquiring an additional 5,874,744 shares during the period. Jennison Associates LLC raised its holdings in shares of Progyny by 19.4% during the third quarter. Jennison Associates LLC now owns 2,706,454 shares of the company’s stock worth $92,074,000 after purchasing an additional 438,932 shares during the last quarter. Principal Financial Group Inc. lifted its position in Progyny by 10.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,358,399 shares of the company’s stock valued at $50,505,000 after purchasing an additional 127,830 shares during the period. Finally, Northern Trust Corp boosted its holdings in Progyny by 1.3% in the third quarter. Northern Trust Corp now owns 1,166,806 shares of the company’s stock valued at $39,695,000 after purchasing an additional 15,208 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.