Progyny (NASDAQ:PGNY) Price Target Raised to $23.00

Progyny (NASDAQ:PGNY) had its price objective increased by JPMorgan Chase & Co. from $17.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

PGNY has been the subject of several other research reports. Barclays reduced their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a report on Tuesday, October 1st. Truist Financial restated a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Canaccord Genuity Group decreased their price target on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, Bank of America lowered their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.50.

Progyny Price Performance

Shares of PGNY opened at $23.54 on Tuesday. The firm has a market capitalization of $2.00 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 2.32 and a beta of 1.31. The company’s fifty day moving average price is $17.46 and its 200-day moving average price is $19.27. Progyny has a 1-year low of $13.39 and a 1-year high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. As a group, research analysts anticipate that Progyny will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, Chairman David J. Schlanger purchased 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the transaction, the chairman now owns 228,269 shares in the company, valued at $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Anevski acquired 209,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the transaction, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This trade represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Progyny

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP increased its position in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Progyny by 341.4% during the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after purchasing an additional 1,246 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny in the 2nd quarter valued at approximately $44,000. Nisa Investment Advisors LLC raised its position in Progyny by 108.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock valued at $51,000 after purchasing an additional 1,526 shares during the period. Finally, Mendota Financial Group LLC acquired a new position in Progyny during the third quarter worth $56,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.