Progyny, Inc. (NASDAQ:PGNY) Receives $25.00 Consensus Target Price from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY) have earned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $25.00.

PGNY has been the subject of several recent analyst reports. Bank of America decreased their target price on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price target (down from $22.00) on shares of Progyny in a report on Monday, December 2nd. Finally, Canaccord Genuity Group dropped their price objective 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.

Insiders Place Their Bets

In other Progyny news, CEO Peter Anevski acquired 209,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the transaction, the chief executive officer now owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David J. Schlanger bought 150,000 shares of the stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now directly owns 228,269 shares in the company, valued at approximately $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. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

Several hedge funds have recently modified their holdings of PGNY. Hsbc Holdings PLC raised its stake in Progyny by 703.9% during the 2nd quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after purchasing an additional 40,694 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after purchasing an additional 22,012 shares during the period. Kestrel Investment Management Corp acquired a new position in shares of Progyny during the second quarter valued at about $5,005,000. Farallon Capital Management LLC lifted its stake in shares of Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after buying an additional 715,900 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its position in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after buying an additional 132,672 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

Progyny Trading Down 1.0 %

NASDAQ:PGNY opened at $17.43 on Friday. The company has a 50-day moving average of $15.41 and a 200-day moving average of $20.03. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31. 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 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 the consensus estimate of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, research analysts forecast that Progyny will post 0.59 earnings per share for the current 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.