Progyny (NASDAQ:PGNY) Price Target Raised to $23.00

Progyny (NASDAQ:PGNY) had its price target lifted by Canaccord Genuity Group from $17.00 to $23.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 3.27% from the company’s previous close.

PGNY has been the subject of a number of other reports. Barclays decreased their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Truist Financial reissued a “hold” rating and issued a $19.00 price target (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. 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. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.33.

Progyny Stock Down 2.7 %

Shares of PGNY stock traded down $0.61 on Friday, reaching $22.27. 2,080,587 shares of the stock were exchanged, compared to its average volume of 1,795,379. Progyny has a 1-year low of $13.39 and a 1-year high of $38.98. The firm has a 50 day moving average of $20.52 and a two-hundred day moving average of $18.68. The stock has a market cap of $1.90 billion, a P/E ratio of 38.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.34.

Insider Activity

In other Progyny news, CEO Peter Anevski bought 209,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, with a total value 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 approximately $6,392,384.24. This trade represents a 90.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David J. Schlanger bought 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the transaction, the chairman now directly owns 228,269 shares in the company, valued at $3,350,988.92. This trade represents 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 Trading of Progyny

A number of institutional investors and hedge funds have recently modified their holdings of PGNY. Voya Investment Management LLC increased its position in shares of Progyny by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company’s stock valued at $893,000 after purchasing an additional 701 shares during the last quarter. GAMMA Investing LLC raised its holdings in Progyny by 341.4% during the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after acquiring an additional 1,246 shares during the period. Signaturefd LLC lifted its position in shares of Progyny by 1,355.0% during the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $25,000 after acquiring an additional 1,355 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 worth $51,000 after acquiring an additional 1,526 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Progyny by 84.6% in the fourth quarter. KBC Group NV now owns 4,669 shares of the company’s stock worth $81,000 after acquiring an additional 2,140 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.