Brokerages Set Progyny, Inc. (NASDAQ:PGNY) Price Target at $49.25

Posted by on Apr 23rd, 2023

Shares of Progyny, Inc. (NASDAQ:PGNY – Get Rating) have been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $48.20.

PGNY has been the topic of several research reports. SVB Leerink reissued a “market perform” rating and set a $34.00 price target (down from $59.00) on shares of Progyny in a research note on Thursday, January 5th. Cantor Fitzgerald began coverage on shares of Progyny in a research report on Thursday. They issued an “overweight” rating and a $44.00 price objective on the stock.

Insider Activity at Progyny

In related news, Chairman David J. Schlanger sold 1,285 shares of the business’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $35.00, for a total transaction of $44,975.00. Following the transaction, the chairman now owns 74,716 shares in the company, valued at $2,615,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman David J. Schlanger sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $35.54, for a total value of $3,554,000.00. Following the transaction, the chairman now owns 76,168 shares in the company, valued at $2,707,010.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David J. Schlanger sold 1,285 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $35.00, for a total transaction of $44,975.00. Following the transaction, the chairman now directly owns 74,716 shares of the company’s stock, valued at $2,615,060. The disclosure for this sale can be found here. Insiders have sold 215,816 shares of company stock worth $7,735,650 over the last 90 days. 14.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Commerce Bank raised its holdings in shares of Progyny by 2.8% during the third quarter. Commerce Bank now owns 11,013 shares of the company’s stock valued at $408,000 after purchasing an additional 303 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Progyny by 3.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,068 shares of the company’s stock valued at $447,000 after buying an additional 351 shares during the last quarter. Securian Asset Management Inc. increased its holdings in Progyny by 5.5% during the third quarter. Securian Asset Management Inc. now owns 6,810 shares of the company’s stock valued at $252,000 after buying an additional 356 shares during the last quarter. Arizona State Retirement System increased its holdings in Progyny by 2.0% during the third quarter. Arizona State Retirement System now owns 19,989 shares of the company’s stock valued at $741,000 after buying an additional 384 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in Progyny by 1.1% during the first quarter. Yousif Capital Management LLC now owns 37,264 shares of the company’s stock valued at $1,915,000 after buying an additional 392 shares during the last quarter. 86.12% of the stock is owned by hedge funds and other institutional investors.

Progyny Trading Up 1.2 %

PGNY stock opened at $34.64 on Thursday. The company’s 50 day moving average is $33.04 and its 200 day moving average is $34.24. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 115.47 and a beta of 1.51. 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 data on Monday, February 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $214.32 million for the quarter, compared to analysts’ expectations of $211.78 million. Progyny had a net margin of 3.86% and a return on equity of 9.24%. Progyny’s revenue for the quarter was up 68.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. As a group, sell-side analysts forecast that Progyny will post 0.28 EPS for the current fiscal year.

About Progyny

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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.

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