Progyny (NASDAQ:PGNY) Price Target Raised to $23.00 at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY) had its price target increased by JPMorgan Chase & Co. from $17.00 to $23.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently weighed in on PGNY. Bank of America dropped their price target on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Canaccord Genuity Group lowered their target price on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Truist Financial restated a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Finally, Barclays cut their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Progyny currently has an average rating of “Hold” and an average price target of $25.50.

Progyny Trading Up 2.8 %

Shares of PGNY stock opened at $23.59 on Tuesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 2.11 and a beta of 1.31. Progyny has a 1-year low of $13.39 and a 1-year high of $42.08. The stock’s fifty day simple moving average is $17.10 and its 200-day simple moving average is $19.21.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the company earned $0.16 earnings per share. Progyny’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, CEO Peter Anevski acquired 209,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the acquisition, the chief executive officer now owns 441,463 shares in the company, valued at $6,392,384.24. This trade represents a 90.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the purchase, the chairman now owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This trade represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Progyny

Several large investors have recently added to or reduced their stakes in PGNY. Leibman Financial Services Inc. grew its holdings in shares of Progyny by 100.7% during the 4th quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company’s stock worth $1,096,000 after purchasing an additional 31,872 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake 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. Fort Washington Investment Advisors Inc. OH increased its holdings in Progyny by 90.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after buying an additional 695,740 shares during the period. Aurora Investment Counsel acquired a new position in shares of Progyny in the 3rd quarter valued at $1,280,000. Finally, Millennium Management LLC lifted its holdings in shares of Progyny by 77.8% during the 2nd quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock worth $15,334,000 after acquiring an additional 234,590 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.