Progyny, Inc. (NASDAQ:PGNY) Receives Consensus Rating of “Hold” from Analysts

Progyny, Inc. (NASDAQ:PGNY) has earned an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $25.00.

A number of analysts recently issued reports on PGNY shares. Jefferies Financial Group decreased their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Canaccord Genuity Group decreased their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Bank of America dropped their target price on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Truist Financial reissued a “hold” rating and issued a $19.00 price target (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Finally, Leerink Partners dropped their price objective on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 19th.

Progyny Stock Up 2.8 %

NASDAQ PGNY opened at $18.76 on Friday. Progyny has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The business has a fifty day moving average of $15.57 and a 200-day moving average of $19.95. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same period in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that Progyny will post 0.59 EPS for the current year.

Insider Activity at Progyny

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

Institutional Investors Weigh In On Progyny

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Progyny by 12,579.4% in the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after acquiring an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after purchasing an additional 2,412,068 shares during the period. Invenomic Capital Management LP acquired a new stake in Progyny during the 3rd quarter valued at $29,509,000. Farallon Capital Management LLC increased its stake in Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares during the period. Finally, Barclays PLC lifted its holdings in Progyny by 530.4% in the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock worth $11,835,000 after buying an additional 594,140 shares in the last quarter. 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.