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

Progyny, Inc. (NASDAQ:PGNY) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $25.83.

PGNY has been the subject of several recent research reports. Truist Financial reissued a “hold” rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Barclays lowered their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group lowered their price target on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, Bank of America boosted their price target on Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $23.20 on Friday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 2.39 and a beta of 1.34. The business has a 50 day simple moving average of $19.84 and a 200 day simple moving average of $18.61. Progyny has a 52 week low of $13.39 and a 52 week high of $40.89.

Insider Transactions at Progyny

In other Progyny news, CEO Peter Anevski purchased 209,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 441,463 shares in the company, valued at $6,392,384.24. This represents a 90.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David J. Schlanger purchased 150,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Signaturefd LLC raised its stake in shares of Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after purchasing an additional 1,355 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after purchasing an additional 1,246 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Progyny by 108.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock valued at $51,000 after purchasing an additional 1,526 shares in the last quarter. Caitlin John LLC raised its stake in shares of Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after purchasing an additional 3,183 shares in the last quarter. Finally, Natixis acquired a new position in shares of Progyny in the fourth quarter valued at $69,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.