Progyny, Inc. (NASDAQ:PGNY) Given Average Rating of “Hold” by Analysts

Progyny, Inc. (NASDAQ:PGNY) has earned an average rating of “Hold” from the twelve analysts that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $27.73.

Several equities analysts recently weighed in on PGNY shares. Truist Financial reduced their price target on shares of Progyny from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Leerink Partners reduced their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Finally, JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th.

Progyny Stock Down 2.9 %

Progyny stock opened at $16.65 on Thursday. Progyny has a 52 week low of $13.93 and a 52 week high of $42.08. The company’s 50 day moving average price is $23.33 and its two-hundred day moving average price is $28.24. The stock has a market cap of $1.50 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.62 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. Progyny’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. On average, equities analysts anticipate that Progyny will post 0.64 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Progyny

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB increased its position in shares of Progyny by 122.2% in the first quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after purchasing an additional 69,552 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Progyny by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after buying an additional 22,012 shares during the last quarter. Kestrel Investment Management Corp purchased a new stake in shares of Progyny during the 2nd quarter valued at $5,005,000. Farallon Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 715,900 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Progyny by 2.7% in the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after acquiring an additional 67,632 shares in the last quarter. Hedge funds and other 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.