Progyny, Inc. (NASDAQ:PGNY) Receives $25.50 Consensus Target Price from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $25.50.

PGNY has been the topic of a number of research analyst reports. Bank of America lowered their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Barclays cut their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Canaccord Genuity Group lowered their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th.

Insider Transactions at Progyny

In other news, CEO Peter Anevski bought 209,500 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the purchase, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This trade represents a 90.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David J. Schlanger purchased 150,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the purchase, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. This represents a 191.65 % 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

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Progyny by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after purchasing an additional 254,725 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Progyny during the second quarter worth $1,544,000. Squarepoint Ops LLC acquired a new stake in shares of Progyny in the second quarter worth about $2,162,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny in the second quarter worth about $44,000. Finally, Millennium Management LLC increased its holdings in shares of Progyny by 77.8% during the 2nd quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock valued at $15,334,000 after acquiring an additional 234,590 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of PGNY stock opened at $23.45 on Wednesday. The firm has a market capitalization of $2.00 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.34. Progyny has a 1 year low of $13.39 and a 1 year high of $42.08. The stock has a fifty day moving average of $17.94 and a two-hundred day moving average of $19.02.

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