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

Shares of Progyny, Inc. (NASDAQ:PGNY) have been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $23.45.

PGNY has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their target price on Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Monday, March 31st.

Progyny Stock Down 3.7%

Progyny stock opened at $21.24 on Friday. The company has a fifty day simple moving average of $21.83 and a 200-day simple moving average of $21.13. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 2.32 and a beta of 1.31. Progyny has a 52-week low of $13.39 and a 52-week high of $30.42.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.28). The company had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. Progyny had a return on equity of 10.90% and a net margin of 4.33%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, research analysts anticipate that Progyny will post 0.6 EPS for the current fiscal year.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of Progyny stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director owned 14,112 shares in the company, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PGNY. Voya Investment Management LLC raised its holdings in shares of Progyny by 258.2% in the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock valued at $4,144,000 after purchasing an additional 133,703 shares in the last quarter. Militia Capital Partners LP increased its holdings in Progyny by 100.0% in the first quarter. Militia Capital Partners LP now owns 2,000 shares of the company’s stock valued at $45,000 after buying an additional 1,000 shares during the last quarter. Acadian Asset Management LLC raised its stake in Progyny by 243.6% in the first quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock valued at $4,589,000 after buying an additional 145,802 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Progyny during the 1st quarter worth about $344,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Progyny by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock worth $5,630,000 after acquiring an additional 14,297 shares in the last quarter. 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.