Progyny (NASDAQ:PGNY) Trading 3.5% Higher

Progyny, Inc. (NASDAQ:PGNY)’s stock price shot up 3.5% during trading on Friday . The stock traded as high as $23.32 and last traded at $22.93. 126,615 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,048,339 shares. The stock had previously closed at $22.15.

Analysts Set New Price Targets

A number of analysts have weighed in on PGNY shares. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group reissued a “hold” rating and set a $24.00 price objective (down previously from $37.00) on shares of Progyny in a report on Wednesday, August 7th. Barclays lowered their target price on Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price target on shares of Progyny in a research note on Tuesday, August 20th. Finally, BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.90.

Progyny Stock Performance

The stock has a market cap of $2.21 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 1.73 and a beta of 1.46. The firm’s fifty day simple moving average is $25.70 and its 200-day simple moving average is $30.46.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. Progyny’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. Analysts predict that Progyny, Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were 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 owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the sale, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caprock Group LLC grew its position in Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after purchasing an additional 319 shares in the last quarter. M&G Investment Management Ltd. grew its holdings in shares of Progyny by 1.2% in the fourth quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock valued at $1,220,000 after acquiring an additional 387 shares in the last quarter. FourThought Financial Partners LLC increased its position in shares of Progyny by 1.3% during the fourth quarter. FourThought Financial Partners LLC now owns 32,683 shares of the company’s stock valued at $1,215,000 after acquiring an additional 423 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in Progyny by 9.6% during the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after acquiring an additional 474 shares during the period. Finally, State of Michigan Retirement System boosted its position in Progyny by 2.5% in the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock worth $781,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors 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.