Progyny (NASDAQ:PGNY) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Progyny (NASDAQ:PGNY) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Several other analysts have also recently commented on PGNY. BTIG Research upgraded shares of Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, March 31st. Canaccord Genuity Group decreased their target price on shares of Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. Finally, Leerink Partners raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.09.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $24.27 on Tuesday. Progyny has a 1 year low of $13.39 and a 1 year high of $30.42. The stock’s 50-day moving average is $21.78 and its 200 day moving average is $21.39. The company has a market cap of $2.08 billion, a PE ratio of 42.58, a P/E/G ratio of 2.26 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.28). Progyny had a return on equity of 10.90% and a net margin of 4.33%. The business had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. During the same period last year, the company earned $0.17 EPS. The business’s revenue was up 16.5% on a year-over-year basis. Analysts expect that Progyny will post 0.6 EPS for the current fiscal year.

Insider Activity

In other Progyny news, Director Cheryl Scott sold 2,675 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total transaction of $59,037.25. Following the sale, the director directly owned 14,112 shares of the company’s stock, valued at $311,451.84. The trade was a 15.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 9.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Progyny

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its position in shares of Progyny by 258.2% during the first quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock valued at $4,144,000 after purchasing an additional 133,703 shares in the last quarter. Militia Capital Partners LP boosted its stake in shares of Progyny by 100.0% in the 1st quarter. Militia Capital Partners LP now owns 2,000 shares of the company’s stock valued at $45,000 after purchasing an additional 1,000 shares in the last quarter. Acadian Asset Management LLC boosted its position in Progyny by 243.6% during the 1st quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock valued at $4,589,000 after buying an additional 145,802 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Progyny during the 1st quarter valued at about $344,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock worth $5,630,000 after acquiring an additional 14,297 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

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.