Progyny (NASDAQ:PGNY) Price Target Raised to $25.00

Progyny (NASDAQ:PGNY) had its price objective raised by research analysts at Bank of America from $21.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 13.53% from the stock’s previous close.

PGNY has been the topic of several other research reports. Truist Financial restated a “hold” rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Canaccord Genuity Group cut their price target on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Barclays lowered 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.83.

Progyny Stock Down 1.7 %

PGNY opened at $22.02 on Tuesday. The business’s 50 day moving average is $18.76 and its two-hundred day moving average is $18.83. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34. Progyny has a 52 week low of $13.39 and a 52 week high of $42.08.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Progyny will post 0.6 EPS for the current fiscal year.

Insider Activity at Progyny

In other news, CEO Peter Anevski bought 209,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the transaction, the chief executive officer now owns 441,463 shares in the company, valued at $6,392,384.24. The trade was a 90.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now directly 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 corporate insiders.

Institutional Investors Weigh In On Progyny

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Progyny by 341.4% during the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after acquiring an additional 1,246 shares in the last quarter. Creative Planning raised its holdings in Progyny by 13.8% in the second quarter. Creative Planning now owns 10,564 shares of the company’s stock valued at $302,000 after acquiring an additional 1,283 shares in the last quarter. Signaturefd LLC lifted its position in shares of Progyny by 1,355.0% during the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $25,000 after purchasing an additional 1,355 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Progyny by 108.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock worth $51,000 after acquiring an additional 1,526 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its holdings in Progyny by 30.0% in the third quarter. Cetera Trust Company N.A now owns 7,210 shares of the company’s stock worth $121,000 after purchasing an additional 1,665 shares during the period. Hedge funds and other institutional investors 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.