Progyny, Inc. (NASDAQ:PGNY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $29.3636.

Several analysts have commented on PGNY shares. Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Tuesday, January 20th. Citigroup raised Progyny to an “outperform” rating in a research report on Tuesday, January 20th. Barclays started coverage on Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research note on Monday, December 29th. Finally, Wall Street Zen raised Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd.

Progyny Stock Performance

PGNY opened at $21.95 on Friday. The stock has a market capitalization of $1.89 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96. The stock’s 50 day moving average price is $25.27 and its 200-day moving average price is $23.33. Progyny has a 52-week low of $17.98 and a 52-week high of $28.75.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The company had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. During the same quarter last year, the firm posted $0.11 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Progyny will post 0.6 EPS for the current fiscal year.

Insider Transactions at Progyny

In other news, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $25.50, for a total transaction of $543,226.50. Following the completion of the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at approximately $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Anevski purchased 79,500 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the transaction, the chief executive officer owned 680,251 shares in the company, valued at approximately $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 22,046 shares of company stock valued at $561,691. 9.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PGNY. Royal Bank of Canada boosted its holdings in Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after acquiring an additional 10,340 shares in the last quarter. Amundi raised its position in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after purchasing an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock worth $5,630,000 after purchasing an additional 14,297 shares in the last quarter. Truist Financial Corp grew its position in Progyny by 47.0% during the 2nd quarter. Truist Financial Corp now owns 23,470 shares of the company’s stock valued at $516,000 after purchasing an additional 7,499 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Progyny by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock valued at $4,052,000 after purchasing an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

About Progyny

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.