Progyny, Inc. (NASDAQ:PGNY) Receives $48.30 Average Price Target from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $48.30.

Several equities research analysts recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Progyny in a research note on Wednesday, April 17th. SVB Leerink initiated coverage on Progyny in a research report on Monday, February 26th. They issued an “outperform” rating and a $49.00 price target for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Barclays began coverage on Progyny in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 target price on shares of Progyny in a research report on Wednesday, February 28th.

Insider Transactions at Progyny

In other Progyny news, Chairman David J. Schlanger sold 20,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $38.50, for a total value of $770,000.00. Following the completion of the sale, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,323,012. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mark S. Livingston sold 11,165 shares of Progyny stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.62, for a total transaction of $420,027.30. Following the sale, the chief financial officer now owns 50,119 shares of the company’s stock, valued at approximately $1,885,476.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David J. Schlanger sold 20,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $38.50, for a total value of $770,000.00. Following the completion of the transaction, the chairman now owns 86,312 shares of the company’s stock, valued at $3,323,012. The disclosure for this sale can be found here. Insiders sold a total of 120,515 shares of company stock worth $4,570,131 over the last three months. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently bought and sold shares of PGNY. RiverPark Advisors LLC boosted its holdings in Progyny by 54.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock valued at $40,000 after purchasing an additional 374 shares in the last quarter. TFC Financial Management Inc. bought a new position in shares of Progyny during the 1st quarter worth approximately $42,000. Financial Management Professionals Inc. bought a new position in shares of Progyny during the 1st quarter worth approximately $52,000. Acadian Asset Management LLC acquired a new stake in Progyny in the 3rd quarter valued at $53,000. Finally, Parkside Financial Bank & Trust grew its position in Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after acquiring an additional 264 shares during the period. Institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

PGNY opened at $32.29 on Monday. The company has a market capitalization of $3.10 billion, a PE ratio of 52.08, a price-to-earnings-growth ratio of 1.35 and a beta of 1.48. Progyny has a fifty-two week low of $29.44 and a fifty-two week high of $44.95. The business has a 50-day moving average of $35.51 and a 200-day moving average of $35.63.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping 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 return on equity of 12.64% and a net margin of 5.70%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, equities research analysts expect that Progyny will post 0.7 earnings per share for the current fiscal year.

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.