Progyny, Inc. (NASDAQ:PGNY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given an average recommendation of “Hold” by the thirteen brokerages that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.00.

A number of research analysts recently issued reports on PGNY shares. Jefferies Financial Group dropped their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Bank of America cut their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Progyny in a research note on Monday, December 2nd. 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 research note on Thursday, November 14th. Finally, Leerink Partners lowered their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th.

Insider Transactions at Progyny

In related news, CEO Peter Anevski purchased 209,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired 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. This trade represents a 90.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David J. Schlanger acquired 150,000 shares of Progyny stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the purchase, the chairman now directly owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Progyny by 2.6% in the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock valued at $696,000 after purchasing an additional 609 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Progyny by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after buying an additional 787 shares in the last quarter. Quarry LP grew its stake in 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 acquiring an additional 836 shares during the last quarter. GAMMA Investing LLC increased its holdings in Progyny by 341.4% during the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Creative Planning raised its position in Progyny by 13.8% during the second quarter. Creative Planning now owns 10,564 shares of the company’s stock worth $302,000 after acquiring an additional 1,283 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Trading Up 2.8 %

Shares of NASDAQ:PGNY opened at $18.76 on Friday. The firm has a 50 day simple moving average of $15.57 and a 200-day simple moving average of $19.95. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The company has a market capitalization of $1.60 billion, a PE ratio of 32.35, a P/E/G ratio of 1.64 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the prior year, the company earned $0.16 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Progyny will post 0.59 EPS for the current fiscal year.

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.