Progyny (NASDAQ:PGNY) Trading Up 3.1% – Time to Buy?

Progyny, Inc. (NASDAQ:PGNY) traded up 3.1% during trading on Wednesday . The company traded as high as $18.17 and last traded at $18.03. 296,243 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,545,136 shares. The stock had previously closed at $17.48.

Analyst Upgrades and Downgrades

Several research firms have commented on PGNY. Barclays lowered their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group lowered their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Progyny presently has an average rating of “Hold” and a consensus price target of $25.00.

Progyny Trading Up 3.4 %

The business has a 50 day moving average price of $15.45 and a 200-day moving average price of $19.97. The firm has a market capitalization of $1.54 billion, a PE ratio of 31.17, a P/E/G ratio of 1.64 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. On average, equities research analysts forecast that Progyny, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at Progyny

In related news, CEO Peter Anevski bought 209,500 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the purchase, the chief executive officer now owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This represents a 90.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David J. Schlanger bought 150,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

Hedge funds have recently made changes to their positions in the company. Quarry LP lifted its stake in shares of Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after purchasing an additional 1,246 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny in the 2nd quarter valued at $44,000. Mendota Financial Group LLC bought a new position in shares of Progyny during the third quarter valued at $56,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Progyny in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.