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

Progyny, Inc. (NASDAQ:PGNY) has been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $48.30.

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

Insider Transactions at Progyny

In related news, Chairman David J. Schlanger sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the sale, the chairman now owns 83,631 shares in the company, valued at approximately $3,137,835.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Progyny news, President Michael E. Sturmer sold 2,260 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the transaction, the president now directly owns 158,532 shares of the company’s stock, valued at approximately $6,341,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David J. Schlanger sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.52, for a total transaction of $37,520.00. Following the completion of the transaction, the chairman now directly owns 83,631 shares in the company, valued at $3,137,835.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,030 shares of company stock worth $3,944,385. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in Progyny by 9.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after buying an additional 264 shares during the period. Caprock Group LLC increased its stake in Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after buying an additional 319 shares during the period. Arizona State Retirement System increased its stake in Progyny by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 22,848 shares of the company’s stock valued at $777,000 after buying an additional 330 shares during the period. RiverPark Advisors LLC grew its stake in shares of Progyny by 54.0% during the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock worth $40,000 after purchasing an additional 374 shares during the period. Finally, M&G Investment Management Ltd. grew its stake in shares of Progyny by 1.2% during the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock worth $1,220,000 after purchasing an additional 387 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Trading Down 1.1 %

NASDAQ:PGNY opened at $31.72 on Monday. The company’s 50-day moving average price is $35.10 and its 200-day moving average price is $35.60. Progyny has a twelve month low of $29.44 and a twelve month high of $44.95. The company has a market cap of $3.05 billion, a P/E ratio of 51.16, a P/E/G ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The company had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. During the same period in the previous year, the firm earned $0.03 earnings per share. Progyny’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts expect that Progyny will post 0.7 earnings per share for the current year.

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.