Progyny, Inc. (NASDAQ:PGNY) Receives $48.30 Average PT from Brokerages

Progyny, Inc. (NASDAQ:PGNY) has earned a consensus rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $48.30.

A number of analysts have recently issued reports on PGNY shares. KeyCorp reduced their price objective on shares of Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. SVB Leerink initiated coverage on shares of Progyny in a research note on Monday, February 26th. They set an “outperform” rating and a $49.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 target price on shares of Progyny in a research note on Wednesday, February 28th. Truist Financial reaffirmed a “buy” rating and set a $46.00 target price on shares of Progyny in a research note on Wednesday, April 17th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Progyny in a research note on Monday, February 26th.

Insider Buying and Selling at Progyny

In other news, President Michael E. Sturmer sold 2,260 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the completion of the sale, the president now owns 158,532 shares in the company, valued at approximately $6,341,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Michael E. Sturmer sold 2,260 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the completion of the sale, the president now owns 158,532 shares in the company, valued at approximately $6,341,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael E. Sturmer sold 4,515 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the completion of the sale, the president now owns 380,038 shares of the company’s stock, valued at approximately $12,142,214.10. The disclosure for this sale can be found here. Insiders sold 105,030 shares of company stock worth $3,944,385 over the last 90 days. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in Progyny by 16.1% during the 3rd quarter. CWM LLC now owns 3,490 shares of the company’s stock valued at $119,000 after buying an additional 483 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Progyny by 4.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,931 shares of the company’s stock valued at $337,000 after buying an additional 450 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Progyny by 27.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,752 shares of the company’s stock valued at $1,829,000 after buying an additional 11,726 shares in the last quarter. Xponance Inc. lifted its holdings in Progyny by 3.6% during the 3rd quarter. Xponance Inc. now owns 11,629 shares of the company’s stock valued at $396,000 after buying an additional 399 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Progyny by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 769,262 shares of the company’s stock valued at $26,170,000 after buying an additional 20,182 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $31.72 on Monday. The firm has a fifty day moving average price of $35.10 and a 200-day moving average price of $35.60. The stock has a market cap of $3.05 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51. Progyny has a 1 year low of $29.44 and a 1 year high of $44.95.

Progyny (NASDAQ:PGNY) last announced 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 firm had revenue of $269.94 million during the quarter, compared to analysts’ expectations of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. On average, research analysts expect that Progyny will post 0.7 EPS for the current year.

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.