Progyny (NASDAQ:PGNY) Rating Reiterated by Truist Financial

Progyny (NASDAQ:PGNY)‘s stock had its “buy” rating reissued by Truist Financial in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $46.00 price target on the stock. Truist Financial’s price target suggests a potential upside of 44.29% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. SVB Leerink assumed coverage on shares of Progyny in a research note on Monday, February 26th. They issued an “outperform” rating and a $49.00 target price for the company. KeyCorp lowered their target price on shares of Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Barclays started coverage on shares of Progyny in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $48.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price objective on shares of Progyny in a research note on Wednesday, February 28th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.30.

Progyny Stock Performance

NASDAQ PGNY opened at $31.88 on Wednesday. The firm’s 50 day moving average price is $36.84 and its 200-day moving average price is $35.66. Progyny has a 52-week low of $29.44 and a 52-week high of $44.95. The company has a market cap of $3.06 billion, a PE ratio of 51.42, a P/E/G ratio of 1.38 and a beta of 1.48.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. On average, analysts forecast that Progyny will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.52, for a total transaction of $37,520.00. Following the completion of the transaction, the chairman now owns 83,631 shares of the company’s stock, valued at $3,137,835.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Progyny news, Chairman David J. Schlanger sold 1,000 shares of Progyny stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the transaction, the chairman now owns 83,631 shares of the company’s stock, valued at $3,137,835.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David J. Schlanger sold 20,000 shares of Progyny stock in a transaction on Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the completion of the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,323,012. The disclosure for this sale can be found here. Insiders sold a total of 120,515 shares of company stock valued at $4,570,131 over the last 90 days. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Raymond James & Associates increased its holdings in Progyny by 27.2% in the first quarter. Raymond James & Associates now owns 72,220 shares of the company’s stock valued at $3,712,000 after buying an additional 15,432 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Progyny by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 672,710 shares of the company’s stock valued at $34,579,000 after purchasing an additional 9,017 shares during the period. US Bancorp DE grew its position in shares of Progyny by 92.3% in the first quarter. US Bancorp DE now owns 14,276 shares of the company’s stock valued at $734,000 after purchasing an additional 6,854 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Progyny by 22.6% in the first quarter. PNC Financial Services Group Inc. now owns 12,296 shares of the company’s stock valued at $632,000 after purchasing an additional 2,265 shares during the period. Finally, Natixis Advisors L.P. grew its position in shares of Progyny by 47.3% in the first quarter. Natixis Advisors L.P. now owns 29,595 shares of the company’s stock valued at $1,521,000 after purchasing an additional 9,497 shares during the period. Hedge funds and other institutional investors 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.