Progyny (NASDAQ:PGNY) Research Coverage Started at BTIG Research

BTIG Research initiated coverage on shares of Progyny (NASDAQ:PGNY – Get Rating) in a research report sent to investors on Monday morning, The Fly reports. The brokerage issued a buy rating and a $50.00 price target on the stock.

PGNY has been the topic of several other research reports. Cantor Fitzgerald increased their price target on shares of Progyny from $44.00 to $45.00 in a research report on Tuesday, May 9th. Bank of America raised their target price on shares of Progyny from $48.00 to $50.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $48.86.

Progyny Trading Down 2.2 %

NASDAQ PGNY opened at $37.39 on Monday. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 86.95, a P/E/G ratio of 2.17 and a beta of 1.51. The firm’s 50 day simple moving average is $33.96 and its 200 day simple moving average is $33.58. Progyny has a 1 year low of $25.67 and a 1 year high of $46.50.

Progyny (NASDAQ:PGNY – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.10. The business had revenue of $258.40 million for the quarter, compared to analyst estimates of $246.63 million. Progyny had a net margin of 4.93% and a return on equity of 11.81%. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. On average, equities research analysts forecast that Progyny will post 0.44 earnings per share for the current year.

Insider Transactions at Progyny

In other news, Chairman David J. Schlanger sold 41,667 shares of Progyny stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $36.11, for a total transaction of $1,504,595.37. Following the transaction, the chairman now owns 76,168 shares in the company, valued at $2,750,426.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Peter Anevski sold 32,000 shares of Progyny stock in a transaction on Friday, May 12th. The shares were sold at an average price of $36.30, for a total transaction of $1,161,600.00. Following the transaction, the chief executive officer now owns 215,924 shares in the company, valued at $7,838,041.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David J. Schlanger sold 41,667 shares of Progyny stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $36.11, for a total transaction of $1,504,595.37. Following the transaction, the chairman now owns 76,168 shares in the company, valued at approximately $2,750,426.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,826 shares of company stock worth $12,704,041. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its stake in Progyny by 2.0% during the third quarter. Arizona State Retirement System now owns 19,989 shares of the company’s stock worth $741,000 after buying an additional 384 shares during the last quarter. Swiss National Bank raised its stake in Progyny by 2.0% during the fourth quarter. Swiss National Bank now owns 177,900 shares of the company’s stock worth $5,542,000 after buying an additional 3,500 shares during the last quarter. Trexquant Investment LP bought a new position in Progyny during the third quarter worth $1,020,000. Envestnet Asset Management Inc. raised its stake in Progyny by 45.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 174,963 shares of the company’s stock worth $5,450,000 after buying an additional 54,258 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Progyny by 7.3% during the third quarter. Bessemer Group Inc. now owns 92,195 shares of the company’s stock worth $3,416,000 after buying an additional 6,258 shares during the last quarter. Institutional investors own 86.12% of the company’s stock.

Progyny Company Profile

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Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.