Progyny (NASDAQ:PGNY) Stock: Insider David Schlanger Sells 35,392 Shares

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 35,392 shares of Progyny stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $35.36, for a total value of $1,251,461.12. Following the transaction, the chairman owned 238,462 shares in the company, valued at approximately $8,432,016.32. This represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Trading Down 1.1%

Shares of PGNY stock opened at $36.18 on Friday. The company’s 50-day moving average price is $28.48 and its 200-day moving average price is $24.87. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 1.70 and a beta of 0.97. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $37.15.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.21. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The firm had revenue of $341.25 million during the quarter, compared to analysts’ expectations of $340.76 million. During the same period last year, the business earned $0.15 earnings per share. Progyny’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that Progyny, Inc. will post 1.41 EPS for the current year.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in Progyny during the second quarter worth about $29,000. Nykredit A S purchased a new stake in shares of Progyny in the 2nd quarter valued at approximately $38,000. IFP Advisors Inc raised its stake in shares of Progyny by 376.0% in the 2nd quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock valued at $57,000 after acquiring an additional 1,549 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of Progyny in the 2nd quarter valued at approximately $65,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Progyny in the 2nd quarter valued at approximately $74,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGNY. Leerink Partners increased their price target on shares of Progyny from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Weiss Ratings raised shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Cantor Fitzgerald upped their price objective on Progyny from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Jefferies Financial Group set a $33.00 price objective on Progyny in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. raised their target price on Progyny from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 9th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

About Progyny

Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.