Progyny (NASDAQ:PGNY) Stock Rating Upgraded by Leerink Partners

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by research analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $28.00 price target on the stock. Leerink Partners' target price points to a potential upside of 20.64% from the stock's previous close.

PGNY has been the subject of a number of other research reports. BTIG Research upgraded Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective for the company in a report on Monday, March 31st. Canaccord Genuity Group decreased their target price on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Progyny has a consensus rating of "Moderate Buy" and an average price target of $24.09.

Progyny Stock Down 1.7%

PGNY traded down $0.40 on Tuesday, hitting $23.21. The company had a trading volume of 739,927 shares, compared to its average volume of 1,718,762. The business's fifty day simple moving average is $21.81 and its 200 day simple moving average is $21.53. Progyny has a 12-month low of $13.39 and a 12-month high of $30.42. The company has a market cap of $1.99 billion, a PE ratio of 40.72, a PEG ratio of 2.43 and a beta of 1.31.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.17 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 analysts' expectations of $307.86 million. Progyny had a return on equity of 10.90% and a net margin of 4.33%. Progyny's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, analysts anticipate that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Progyny

In related news, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the sale, the director directly owned 14,112 shares of the company's stock, valued at $311,451.84. This represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Progyny

Several large investors have recently modified their holdings of PGNY. New York State Teachers Retirement System increased its holdings in Progyny by 0.7% during the first quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock valued at $1,635,000 after buying an additional 500 shares during the period. Leibman Financial Services Inc. boosted its position in Progyny by 1.1% during the 2nd quarter. Leibman Financial Services Inc. now owns 45,946 shares of the company's stock valued at $1,011,000 after acquiring an additional 513 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Progyny by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock valued at $893,000 after acquiring an additional 701 shares during the period. Polen Capital Management LLC raised its position in shares of Progyny by 0.3% in the 1st quarter. Polen Capital Management LLC now owns 261,506 shares of the company's stock worth $5,842,000 after acquiring an additional 798 shares in the last quarter. Finally, Militia Capital Partners LP raised its position in shares of Progyny by 100.0% in the 1st quarter. Militia Capital Partners LP now owns 2,000 shares of the company's stock worth $45,000 after acquiring an additional 1,000 shares in the last quarter. 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.