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

Shares of Progyny, Inc. (NASDAQ:PGNY) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $31.90.

PGNY has been the topic of several research reports. Canaccord Genuity Group reiterated a “hold” rating and set a $24.00 price target (down previously from $37.00) on shares of Progyny in a research report on Wednesday, August 7th. JMP Securities dropped their target price on shares of Progyny from $36.00 to $31.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price target on shares of Progyny in a research note on Tuesday, August 20th. Leerink Partners cut shares of Progyny from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $31.00 to $25.00 in a research report on Wednesday, August 7th. Finally, Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Progyny Trading Up 6.0 %

NASDAQ:PGNY opened at $23.49 on Friday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 1.73 and a beta of 1.46. Progyny has a 1 year low of $19.60 and a 1 year high of $42.08. The firm has a 50 day moving average of $25.65 and a 200-day moving average of $30.27.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, analysts forecast that Progyny will post 0.63 EPS for the current fiscal year.

Insider Activity

In related news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the sale, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Progyny

A number of large investors have recently made changes to their positions in PGNY. Retirement Systems of Alabama bought a new stake in Progyny during the 4th quarter worth approximately $3,883,000. Victory Capital Management Inc. increased its position in shares of Progyny by 15.8% during the fourth quarter. Victory Capital Management Inc. now owns 63,501 shares of the company’s stock worth $2,361,000 after acquiring an additional 8,670 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Progyny by 9.8% during the fourth quarter. Natixis Advisors L.P. now owns 52,017 shares of the company’s stock worth $1,933,000 after acquiring an additional 4,637 shares during the period. Amalgamated Bank raised its holdings in shares of Progyny by 2.5% during the fourth quarter. Amalgamated Bank now owns 51,558 shares of the company’s stock worth $1,917,000 after acquiring an additional 1,236 shares during the period. Finally, FourThought Financial Partners LLC lifted its position in Progyny by 1.3% in the 4th quarter. FourThought Financial Partners LLC now owns 32,683 shares of the company’s stock valued at $1,215,000 after acquiring an additional 423 shares in 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.