Progyny (NASDAQ:PGNY) Chairman David Schlanger Sells 35,392 Shares of Company Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 35,392 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $35.36, for a total transaction of $1,251,461.12. Following the completion of the sale, the chairman directly owned 238,462 shares of the company’s stock, valued at $8,432,016.32. The trade was a 12.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Price Performance

PGNY traded up $0.08 during mid-day trading on Thursday, hitting $36.58. The stock had a trading volume of 795,028 shares, compared to its average volume of 1,363,031. The stock’s fifty day simple moving average is $28.08 and its 200-day simple moving average is $24.76. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $37.16.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The company had revenue of $341.25 million for the quarter, compared to analysts’ expectations of $340.76 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts expect that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings upgraded Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Cantor Fitzgerald increased their price target on Progyny from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Leerink Partners raised their price target on Progyny from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Wells Fargo & Company raised their price target on Progyny from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Finally, BTIG Research lifted their price objective on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.33.

Institutional Investors Weigh In On Progyny

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Progyny in the 2nd quarter valued at $29,000. Nykredit A S bought a new position in Progyny during the 2nd quarter worth about $38,000. IFP Advisors Inc increased its holdings in Progyny by 376.0% during the 2nd quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock worth $57,000 after purchasing an additional 1,549 shares in the last quarter. Toth Financial Advisory Corp bought a new position in Progyny during the 2nd quarter worth about $65,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Progyny in the 2nd quarter valued at about $74,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Company Profile

Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.