Progyny, Inc. (NASDAQ:PGNY) Receives $25.50 Consensus Price Target from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen brokerages that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.50.

PGNY has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Progyny from $30.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Canaccord Genuity Group cut their price target on Progyny from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Bank of America reduced their price objective on Progyny from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Progyny from $17.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Truist Financial reissued a "hold" rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th.

Progyny Stock Down 1.6 %

Shares of NASDAQ:PGNY traded down $0.37 during trading on Wednesday, hitting $23.17. 1,591,325 shares of the company traded hands, compared to its average volume of 1,864,525. The business's fifty day moving average is $17.62 and its 200-day moving average is $19.16. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 2.32 and a beta of 1.31. Progyny has a one year low of $13.39 and a one year high of $42.08.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. Progyny's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 earnings per share. On average, analysts forecast that Progyny will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Peter Anevski bought 209,500 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the acquisition, the chief executive officer now directly owns 441,463 shares of the company's stock, valued at $6,392,384.24. The trade was a 90.32 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares of the company's stock, valued at $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Progyny

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company's stock valued at $25,000 after acquiring an additional 836 shares during the period. GAMMA Investing LLC grew its position in Progyny by 341.4% during the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company's stock worth $28,000 after purchasing an additional 1,246 shares in the last quarter. Creative Planning grew its position in Progyny by 13.8% during the 2nd quarter. Creative Planning now owns 10,564 shares of the company's stock worth $302,000 after purchasing an additional 1,283 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Progyny by 108.4% during the 4th 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny in the second quarter worth $44,000. Hedge funds and other 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.