Progyny, Inc. (NASDAQ:PGNY) Given Consensus Rating of “Moderate Buy” by Analysts

Progyny, Inc. (NASDAQ:PGNYGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.11.

PGNY has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 price target on shares of Progyny in a research note on Thursday, May 16th. SVB Leerink began coverage on Progyny in a research report on Monday, February 26th. They set an “outperform” rating and a $49.00 price objective for the company. BTIG Research lowered their price objective on Progyny from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Barclays lowered their price objective on Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, Canaccord Genuity Group lowered their price objective on Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, May 10th.

View Our Latest Stock Analysis on Progyny

Progyny Trading Up 1.0 %

Shares of PGNY stock opened at $26.12 on Tuesday. The business’s 50-day moving average price is $29.01 and its 200-day moving average price is $34.42. Progyny has a 12 month low of $23.90 and a 12 month high of $44.95. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 42.82, a PEG ratio of 1.64 and a beta of 1.46.

Progyny (NASDAQ:PGNYGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The firm had revenue of $278.08 million for the quarter, compared to analyst estimates of $289.41 million. During the same period last year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that Progyny will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Progyny news, Chairman David J. Schlanger sold 71,272 shares of Progyny stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the sale, the chairman now directly owns 86,312 shares in the company, valued at $3,262,593.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Progyny news, President Michael E. Sturmer sold 6,395 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the completion of the sale, the president now owns 384,553 shares of the company’s stock, valued at $14,459,192.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the sale, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,347 shares of company stock worth $3,536,335. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Progyny

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Progyny by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after acquiring an additional 41,687 shares during the period. International Assets Investment Management LLC grew its stake in Progyny by 352,414.2% in the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock valued at $218,485,000 after acquiring an additional 5,874,744 shares during the period. Jennison Associates LLC grew its stake in Progyny by 2.7% in the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after acquiring an additional 67,632 shares during the period. Principal Financial Group Inc. grew its stake in Progyny by 3.1% in the first quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company’s stock valued at $53,437,000 after acquiring an additional 42,302 shares during the period. Finally, Northern Trust Corp grew its stake in Progyny by 1.3% in the third quarter. Northern Trust Corp now owns 1,166,806 shares of the company’s stock valued at $39,695,000 after acquiring an additional 15,208 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

About Progyny

(Get Free Report

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.

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Analyst Recommendations for Progyny (NASDAQ:PGNY)

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