Progyny (NASDAQ:PGNY) Sees Strong Trading Volume

Progyny, Inc. (NASDAQ:PGNY) shares saw unusually-strong trading volume on Friday . Approximately 1,194,653 shares traded 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

A number of research analysts have recently commented on PGNY shares. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday. Cantor Fitzgerald cut their price target on Progyny from $37.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday. Leerink Partners lowered their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.27.

Progyny Stock Up 0.9 %

The firm has a fifty day moving average price of $24.33 and a 200 day moving average price of $28.78. The company has a market cap of $1.58 billion, a P/E ratio of 26.98, a PEG ratio of 1.88 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The company had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Progyny, Inc. will post 0.64 earnings per share for the current year.

Insider Buying and Selling at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction that occurred 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 transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 10,098 shares in the company, valued at approximately $286,682.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Michael E. Sturmer sold 9,030 shares of the company’s 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 owns 362,583 shares of the company’s stock, valued at $10,877,490. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of institutional investors have recently modified their holdings of PGNY. Quarry LP increased its holdings in Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares in the last quarter. TFC Financial Management Inc. acquired a new position in Progyny in the 1st quarter worth about $42,000. Financial Management Professionals Inc. bought a new stake in shares of Progyny in the 1st quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progyny in the 2nd quarter valued at about $44,000. Finally, Cambridge Trust Co. bought a new stake in shares of Progyny in the 1st quarter valued at about $95,000. Institutional investors and hedge funds 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.