Progyny (NASDAQ:PGNY) Sees Strong Trading Volume

Shares of Progyny, Inc. (NASDAQ:PGNY) saw unusually-high trading volume on Friday . Approximately 1,194,653 shares changed hands during trading, a decline of 0% from the previous session’s volume of 1,200,064 shares.The stock last traded at $16.45 and had previously closed at $16.46.

Analysts Set New Price Targets

PGNY has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and cut their price target for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Leerink Partners cut their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.27.

Progyny Stock Up 0.9 %

The company has a market capitalization of $1.58 billion, a PE ratio of 26.98, a P/E/G ratio of 1.88 and a beta of 1.45. The stock has a 50-day moving average of $24.33 and a 200 day moving average of $28.78.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company 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%. Progyny’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. Equities analysts forecast that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Progyny

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after buying an additional 41,687 shares during the period. Jennison Associates LLC lifted its stake in Progyny by 2.7% during the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after purchasing an additional 67,632 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Progyny by 3.1% during the first quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company’s stock worth $53,437,000 after purchasing an additional 42,302 shares during the last quarter. Farallon Capital Management LLC lifted its stake in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Progyny by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after purchasing an additional 254,725 shares during 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.