Progyny (NASDAQ:PGNY) Rating Increased to Buy at BTIG Research

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by equities research analysts at BTIG Research from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a $28.00 price target on the stock. BTIG Research's price target indicates a potential upside of 25.98% from the stock's previous close.

Several other equities analysts have also commented on PGNY. Canaccord Genuity Group upped their price target on shares of Progyny from $17.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, February 28th. Bank of America lifted their price objective on shares of Progyny from $21.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Progyny from $17.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $23.64.

Progyny Stock Down 4.0 %

PGNY stock traded down $0.92 during trading on Monday, hitting $22.23. 584,114 shares of the company's stock traded hands, compared to its average volume of 1,700,429. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.39 and a beta of 1.33. Progyny has a 52 week low of $13.39 and a 52 week high of $36.51. The stock has a fifty day moving average price of $22.18 and a two-hundred day moving average price of $18.55.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Invenomic Capital Management LP bought a new position in shares of Progyny in the third quarter worth about $29,509,000. River Road Asset Management LLC bought a new position in Progyny in the 4th quarter worth approximately $25,529,000. Pacer Advisors Inc. lifted its holdings in shares of Progyny by 47.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company's stock worth $63,414,000 after buying an additional 1,183,558 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Progyny by 90.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company's stock valued at $25,319,000 after acquiring an additional 695,740 shares during the period. Finally, Barclays PLC boosted its position in shares of Progyny by 95.7% in the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company's stock valued at $23,843,000 after acquiring an additional 676,048 shares during the period. Institutional investors and hedge funds 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.