Brokerages Set Progyny, Inc. (NASDAQ:PGNY) Target Price at $25.00

Shares of Progyny, Inc. (NASDAQ:PGNY) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.00.

A number of brokerages have weighed in on PGNY. Leerink Partners lowered their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 19th. Jefferies Financial Group dropped their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Barclays reduced their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research report on Tuesday, October 1st. Finally, JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th.

Progyny Trading Down 1.0 %

Shares of PGNY opened at $17.43 on Friday. The stock’s fifty day simple moving average is $15.41 and its 200 day simple moving average is $20.03. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The firm has a market capitalization of $1.48 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. Sell-side analysts predict that Progyny will post 0.59 earnings per share for the current year.

Insider Transactions at Progyny

In other Progyny news, CEO Peter Anevski acquired 209,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the acquisition, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This represents a 90.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David J. Schlanger bought 150,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the purchase, the chairman now directly 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 disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after buying an additional 22,012 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Progyny by 31.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,470 shares of the company’s stock valued at $643,000 after acquiring an additional 5,428 shares during the period. Rhumbline Advisers raised its holdings in Progyny by 3.7% during the second quarter. Rhumbline Advisers now owns 261,466 shares of the company’s stock worth $7,481,000 after purchasing an additional 9,364 shares in the last quarter. TD Asset Management Inc acquired a new stake in Progyny in the second quarter worth approximately $1,215,000. Finally, Victory Capital Management Inc. lifted its position in Progyny by 11.4% in the second quarter. Victory Capital Management Inc. now owns 72,301 shares of the company’s stock worth $2,069,000 after purchasing an additional 7,375 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Company Profile

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.