Progyny, Inc. (NASDAQ:PGNY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $25.00.

Several research firms have commented on PGNY. Barclays cut their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Bank of America cut their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Truist Financial reaffirmed a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of Progyny in a research report on Tuesday, October 1st. Finally, JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th.

Insiders Place Their Bets

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

Institutional Trading of Progyny

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in Progyny by 4.5% during the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after buying an additional 134,861 shares during the period. International Assets Investment Management LLC grew 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 acquiring an additional 2,412,068 shares in the last quarter. Pacer Advisors Inc. increased its position in Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after acquiring an additional 2,472,983 shares during the period. Invenomic Capital Management LP bought a new position in Progyny during the third quarter worth about $29,509,000. Finally, Farallon Capital Management LLC boosted its holdings in Progyny by 120.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after purchasing an additional 715,900 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Stock Down 0.7 %

Shares of NASDAQ:PGNY opened at $17.60 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.64 and a beta of 1.35. Progyny has a 12 month low of $13.39 and a 12 month high of $42.08. The company’s fifty day simple moving average is $15.38 and its 200 day simple moving average is $20.17.

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

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.