Progyny (NASDAQ:PGNY) Price Target Raised to $25.00

Progyny (NASDAQ:PGNY) had its price target boosted by Bank of America from $21.00 to $25.00 in a research report released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

PGNY has been the subject of a number of other reports. Truist Financial reissued a “hold” rating and set a $19.00 target price (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group dropped their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, Barclays dropped their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.83.

Progyny Trading Down 0.3 %

Progyny stock opened at $21.95 on Tuesday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.18 and a beta of 1.34. The stock has a 50 day moving average of $18.90 and a two-hundred day moving average of $18.85. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. Equities analysts predict that Progyny will post 0.6 earnings per share for the current year.

Insider Activity at Progyny

In other news, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $14.68 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Anevski bought 209,500 shares of Progyny stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price 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 disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. Signaturefd LLC raised its position in Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after purchasing an additional 1,355 shares during the period. GAMMA Investing LLC raised its position in Progyny by 341.4% in 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 during the period. Nisa Investment Advisors LLC raised its position in Progyny by 108.4% in the fourth 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. Caitlin John LLC raised its position in Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after purchasing an additional 3,183 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Progyny in the fourth quarter valued at about $74,000. 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.