Progyny (NASDAQ:PGNY) Upgraded to “Buy” at BTIG Research

Progyny (NASDAQ:PGNY) was upgraded by equities research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $28.00 price objective on the stock. BTIG Research’s price objective would suggest a potential upside of 24.41% from the company’s previous close.

A number of other research firms have also weighed in on PGNY. JPMorgan Chase & Co. raised their price objective on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group raised their price target on shares of Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Finally, Bank of America boosted their price objective on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Progyny presently has a consensus rating of “Hold” and a consensus target price of $23.64.

Progyny Trading Up 2.8 %

Progyny stock traded up $0.61 during midday trading on Monday, reaching $22.51. The stock had a trading volume of 301,087 shares, compared to its average volume of 1,690,863. The company has a fifty day moving average price of $22.06 and a two-hundred day moving average price of $18.50. Progyny has a 12 month low of $13.39 and a 12 month high of $37.92. The company has a market capitalization of $1.92 billion, a P/E ratio of 38.80, a PEG ratio of 2.39 and a beta of 1.41.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Progyny by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 673,446 shares of the company’s stock worth $11,287,000 after buying an additional 4,007 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in shares of Progyny in the 3rd quarter worth approximately $2,792,000. Edgestream Partners L.P. grew its holdings in Progyny by 72.7% during the third quarter. Edgestream Partners L.P. now owns 69,082 shares of the company’s stock valued at $1,158,000 after purchasing an additional 29,074 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Progyny in the third quarter worth about $597,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Progyny by 2,283.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,544 shares of the company’s stock worth $612,000 after purchasing an additional 35,011 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.