Progyny (NASDAQ:PGNY) Sees Unusually-High Trading Volume

Progyny, Inc. (NASDAQ:PGNY) saw an uptick in trading volume on Friday . 1,194,653 shares traded hands during trading, a decline of 0% from the previous session’s volume of 1,200,064 shares.The stock last traded at $16.45 and had previously closed at $16.46.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and lowered their target price for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Leerink Partners lowered their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday. Cantor Fitzgerald reduced their target price on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial lowered their price target on shares of Progyny from $33.00 to $26.00 and set a “buy” rating for the company in a report on Thursday. Finally, BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.73.

Progyny Price Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45. The stock has a 50-day moving average price of $24.08 and a 200 day moving average price of $28.61.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, equities research analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Cheryl Scott sold 1,462 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now directly owns 10,098 shares in the company, valued at approximately $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Progyny by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 644,687 shares of the company’s stock worth $23,969,000 after purchasing an additional 14,039 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Progyny by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 844,679 shares of the company’s stock valued at $31,406,000 after buying an additional 105,544 shares in the last quarter. Norges Bank acquired a new position in Progyny during the fourth quarter worth $14,198,000. Assetmark Inc. grew its holdings in Progyny by 26.8% during the fourth quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock worth $140,000 after acquiring an additional 793 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Progyny by 13.6% in the fourth quarter. Neuberger Berman Group LLC now owns 274,409 shares of the company’s stock worth $10,203,000 after acquiring an additional 32,871 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.