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

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given an average rating of “Hold” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $27.73.

Several equities analysts have weighed in on PGNY shares. Canaccord Genuity Group cut their target price on Progyny from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, September 20th. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald decreased their target price on Progyny from $37.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Leerink Partners decreased their price objective on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th.

Progyny Stock Performance

NASDAQ:PGNY opened at $16.76 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.62 and a beta of 1.45. The stock’s 50 day moving average price is $22.67 and its 200 day moving average price is $27.78. Progyny has a 52 week low of $13.93 and a 52 week high of $42.08.

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

Insider Activity at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the sale, the president now directly owns 362,583 shares in the company, valued at approximately $10,877,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Progyny in the second quarter worth $44,000. Quarry LP raised its stake in shares of 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 buying an additional 836 shares in the last quarter. Creative Planning lifted its holdings in shares of Progyny by 13.8% during the 2nd 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 period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Progyny by 1.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 528,412 shares of the company’s stock worth $15,118,000 after acquiring an additional 9,358 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Progyny during the 2nd quarter valued at about $286,000. 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.