Progyny (NASDAQ:PGNY) PT Lowered to $41.00

Progyny (NASDAQ:PGNY) had its target price lowered by equities researchers at BTIG Research from $50.00 to $41.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 62.57% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price target on shares of Progyny in a report on Wednesday, February 28th. KeyCorp lowered Progyny from an “overweight” rating to a “sector weight” rating in a report on Friday. SVB Leerink assumed coverage on Progyny in a research report on Monday, February 26th. They set an “outperform” rating and a $49.00 price target for the company. Finally, Truist Financial restated a “buy” rating and issued a $46.00 target price on shares of Progyny in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.11.

Progyny Price Performance

Progyny stock traded down $7.28 during midday trading on Friday, hitting $25.22. The company’s stock had a trading volume of 5,384,960 shares, compared to its average volume of 849,723. Progyny has a 1-year low of $23.90 and a 1-year high of $44.95. The company has a 50-day moving average price of $34.67 and a two-hundred day moving average price of $35.59. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 40.90, a PEG ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $278.08 million during the quarter, compared to analysts’ expectations of $289.41 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Sell-side analysts forecast that Progyny will post 0.7 EPS for the current year.

Insider Activity

In other Progyny news, CFO Mark S. Livingston sold 11,165 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.62, for a total value of $420,027.30. Following the completion of the sale, the chief financial officer now owns 50,119 shares in the company, valued at approximately $1,885,476.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Progyny news, Chairman David J. Schlanger sold 5,826 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the sale, the chairman now owns 86,312 shares in the company, valued at $3,257,414.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark S. Livingston sold 11,165 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.62, for a total value of $420,027.30. Following the completion of the sale, the chief financial officer now owns 50,119 shares in the company, valued at approximately $1,885,476.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,770 shares of company stock valued at $3,853,985. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gotham Asset Management LLC bought a new position in shares of Progyny in the third quarter worth about $1,116,000. International Assets Investment Management LLC boosted its position in shares of Progyny by 9,381.3% during the fourth quarter. International Assets Investment Management LLC now owns 158,053 shares of the company’s stock worth $5,876,411,000 after acquiring an additional 156,386 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Progyny during the fourth quarter valued at $870,000. Invesco Ltd. increased its holdings in Progyny by 67.0% in the 3rd quarter. Invesco Ltd. now owns 888,427 shares of the company’s stock valued at $30,224,000 after acquiring an additional 356,529 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Progyny by 1.3% during the 3rd 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 own 94.93% of the company’s stock.

About Progyny

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.