Progyny (NASDAQ:PGNY) Price Target Raised to $23.00

Progyny (NASDAQ:PGNY - Free Report) had its price target boosted by Canaccord Genuity Group from $17.00 to $23.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts also recently weighed in on the company. Bank of America upped their target price on Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Truist Financial reiterated a "hold" rating and set a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Finally, Barclays reduced their target price on shares of Progyny from $30.00 to $17.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Progyny currently has a consensus rating of "Hold" and a consensus price target of $24.82.

Progyny Stock Performance

Progyny stock traded down $0.44 during trading on Friday, reaching $21.56. 2,506,888 shares of the company's stock were exchanged, compared to its average volume of 1,556,209. Progyny has a 52-week low of $13.39 and a 52-week high of $38.98. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.39 and a beta of 1.34. The company's 50-day moving average is $20.83 and its two-hundred day moving average is $18.67.

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Insider Buying and Selling at Progyny

In other news, CEO Peter Anevski acquired 209,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the acquisition, the chief executive officer now directly owns 441,463 shares in the company, valued at $6,392,384.24. This represents a 90.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares in the company, 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 currently owned by insiders.

Institutional Investors Weigh In On Progyny

A number of institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its holdings in Progyny by 423.8% in the fourth quarter. Mackenzie Financial Corp now owns 117,387 shares of the company's stock worth $2,025,000 after purchasing an additional 94,978 shares during the period. AWM Investment Company Inc. lifted its position in shares of Progyny by 540.0% in the 4th quarter. AWM Investment Company Inc. now owns 160,000 shares of the company's stock worth $2,760,000 after buying an additional 135,000 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Progyny by 85.5% in the 4th quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock valued at $20,665,000 after buying an additional 552,066 shares during the period. Two Sigma Advisers LP grew its position in shares of Progyny by 83.8% during the 4th quarter. Two Sigma Advisers LP now owns 266,100 shares of the company's stock valued at $4,590,000 after buying an additional 121,300 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Progyny by 15.9% during the fourth quarter. Two Sigma Investments LP now owns 657,276 shares of the company's stock worth $11,338,000 after acquiring an additional 90,197 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Progyny Company Profile

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.