Progyny, Inc. (NASDAQ:PGNY) Receives $23.64 Consensus Price Target from Analysts

Progyny, Inc. (NASDAQ:PGNY) has received an average rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $23.45.

A number of brokerages have recently commented on PGNY. JPMorgan Chase & Co. upped their price target on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Monday, March 31st. Bank of America upped their price target on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group cut their price target on Progyny from $23.00 to $21.00 and set a “hold” rating for the company in a report on Monday.

Progyny Stock Up 0.4%

Shares of Progyny stock opened at $21.95 on Friday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 37.85, a PEG ratio of 2.39 and a beta of 1.37. The stock has a 50 day moving average price of $22.03 and a two-hundred day moving average price of $19.68. Progyny has a 12-month low of $13.39 and a 12-month high of $30.42.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.28). The company had revenue of $324.04 million for the quarter, compared to the consensus estimate of $307.86 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. Sell-side analysts anticipate that Progyny will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PGNY. Signaturefd LLC raised its stake in shares of Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after purchasing an additional 1,355 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after purchasing an additional 1,246 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Progyny in the first quarter valued at $44,000. Nisa Investment Advisors LLC raised its stake 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 valued at $51,000 after purchasing an additional 1,526 shares in the last quarter. Finally, Caitlin John LLC raised its stake in shares of Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after purchasing an additional 3,183 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

About Progyny

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.