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

Progyny, Inc. (NASDAQ:PGNY) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $25.50.

Several analysts have issued reports on PGNY shares. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Progyny in a report on Tuesday, October 1st. Barclays lowered their price target on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Canaccord Genuity Group reduced their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday.

Progyny Trading Up 2.8 %

PGNY opened at $23.59 on Wednesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.11 and a beta of 1.31. Progyny has a 12-month low of $13.39 and a 12-month high of $42.08. The business’s fifty day simple moving average is $17.10 and its 200-day simple moving average is $19.21.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Progyny will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman David J. Schlanger acquired 150,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter Anevski bought 209,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the acquisition, the chief executive officer now owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progyny

Several large investors have recently made changes to their positions in PGNY. Pacer Advisors Inc. lifted its position in shares of Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after buying an additional 2,412,068 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Progyny during the 3rd quarter worth approximately $29,509,000. Fort Washington Investment Advisors Inc. OH raised its stake in Progyny by 90.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after purchasing an additional 695,740 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Progyny by 530.4% during the third quarter. Barclays PLC now owns 706,157 shares of the company’s stock worth $11,835,000 after buying an additional 594,140 shares in the last quarter. 94.93% of the stock is currently 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.