Brokerages Set Progyny, Inc. (NASDAQ:PGNY) Target Price at $48.30

Progyny, Inc. (NASDAQ:PGNY) has been given a consensus rating of “Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $48.30.

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. SVB Leerink started coverage on shares of Progyny in a report on Monday, February 26th. They issued an “outperform” rating and a $49.00 price target for the company. KeyCorp reduced their price objective on Progyny from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $46.00 price target on shares of Progyny in a research note on Wednesday, April 17th.

Progyny Stock Performance

PGNY opened at $31.72 on Monday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 1.34 and a beta of 1.51. The firm’s 50-day simple moving average is $35.24 and its 200-day simple moving average is $35.58. Progyny has a twelve month low of $29.44 and a twelve month high of $44.95.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. Progyny’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts anticipate that Progyny will post 0.7 EPS for the current fiscal year.

Insider Transactions at Progyny

In related news, President Michael E. Sturmer sold 2,260 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total transaction of $90,400.00. Following the completion of the transaction, the president now owns 158,532 shares in the company, valued at $6,341,280. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman David J. Schlanger sold 5,826 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.74, for a total transaction of $219,873.24. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at $3,257,414.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Michael E. Sturmer sold 2,260 shares of Progyny stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total transaction of $90,400.00. Following the completion of the transaction, the president now directly owns 158,532 shares in the company, valued at approximately $6,341,280. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,030 shares of company stock worth $4,714,385. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

A number of hedge funds and other institutional investors have recently bought and sold shares of PGNY. RiverPark Advisors LLC lifted its position in Progyny by 362.4% during the 1st quarter. RiverPark Advisors LLC now owns 4,934 shares of the company’s stock worth $188,000 after buying an additional 3,867 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Progyny in the first quarter valued at about $247,000. Jennison Associates LLC raised its holdings in Progyny by 2.7% during the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after acquiring an additional 67,632 shares in the last quarter. Nordea Investment Management AB boosted its position in Progyny by 122.2% during the first quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock valued at $4,891,000 after purchasing an additional 69,552 shares during the last quarter. Finally, Mckinley Capital Management LLC bought a new position in Progyny in the first quarter valued at approximately $1,365,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.