Progyny (NASDAQ:PGNY) Stock: Insider David Schlanger Sells 35,392 Shares

Key Points

• Progyny Chairman David Schlanger sold 35,392 shares for about $1.25 million, reducing his stake by 12.92% to 238,462 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Progyny reported quarterly EPS of $0.52, beating the $0.31 consensus; revenue was $341.25 million, up 8.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $35.33; shares recently traded at $36.58.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) Chairman David Schlanger sold 35,392 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $35.36, for a total value of $1,251,461.12. Following the completion of the transaction, the chairman owned 238,462 shares in the company, valued at $8,432,016.32. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Price Performance

Shares of PGNY stock traded up $0.08 on Thursday, reaching $36.58. 795,028 shares of the stock were exchanged, compared to its average volume of 1,363,031. Progyny, Inc. has a one year low of $16.10 and a one year high of $37.16. The stock has a market cap of $2.69 billion, a PE ratio of 33.56, a P/E/G ratio of 1.91 and a beta of 0.97. The stock has a 50 day moving average price of $28.08 and a 200 day moving average price of $24.76.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.21. The business had revenue of $341.25 million for the quarter, compared to analysts' expectations of $340.76 million. Progyny had a return on equity of 19.82% and a net margin of 6.80%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. On average, research analysts expect that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Progyny from $30.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday. Wall Street Zen upgraded shares of Progyny from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Canaccord Genuity Group set a $35.00 price target on shares of Progyny in a research note on Friday, August 7th. Citizens Jmp increased their price objective on shares of Progyny from $33.00 to $38.00 and gave the company a "market outperform" rating in a report on Thursday, November 5th. Finally, BTIG Research increased their price objective on shares of Progyny from $30.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Progyny presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.33.

Hedge Funds Weigh In On Progyny

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Progyny during the second quarter worth about $334,426,000. Bank of America Corp DE grew its position in shares of Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company's stock worth $20,223,000 after buying an additional 511,609 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Progyny in the 2nd quarter valued at about $16,807,000. Danske Bank A S bought a new stake in shares of Progyny in the 2nd quarter valued at about $15,243,000. Finally, Jupiter Topco LLC bought a new stake in shares of Progyny in the 2nd quarter valued at about $12,986,000. Institutional investors and hedge funds own 94.93% of the company's stock.

About Progyny

Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company's offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.

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