Progyny (NASDAQ:PGNY) Shares Up 3.1% – Here’s What Happened

Progyny, Inc. (NASDAQ:PGNY)’s share price rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $18.17 and last traded at $18.03. Approximately 296,243 shares traded hands during trading, a decline of 81% from the average daily volume of 1,545,136 shares. The stock had previously closed at $17.48.

Analysts Set New Price Targets

Several research analysts recently weighed in on PGNY shares. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Barclays lowered their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Jefferies Financial Group lowered their target price on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Canaccord Genuity Group decreased their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

Progyny Stock Up 3.4 %

The stock has a 50 day moving average price of $15.45 and a 200 day moving average price of $19.97. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. During the same quarter last year, the business earned $0.16 earnings per share. Progyny’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts forecast that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, Chairman David J. Schlanger acquired 150,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Peter Anevski acquired 209,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the acquisition, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

A number of hedge funds have recently made changes to their positions in PGNY. Arizona State Retirement System lifted its stake in Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Progyny by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after purchasing an additional 787 shares during the period. Quarry LP grew its position in shares of Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after buying an additional 836 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Creative Planning increased its position in Progyny by 13.8% during the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock valued at $302,000 after purchasing an additional 1,283 shares during the period. 94.93% of the stock is owned by institutional investors.

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.