Progyny (NASDAQ:PGNY) Upgraded at Leerink Partners

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by equities researchers 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 target price on the stock. Leerink Partners' price target indicates a potential upside of 15.37% from the company's previous close.

A number of other research analysts have also recently issued reports on PGNY. Canaccord Genuity Group decreased 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 target price on the stock in a research report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Progyny presently has a consensus rating of "Moderate Buy" and an average target price of $24.09.

Progyny Price Performance

PGNY stock traded up $2.82 during midday trading on Tuesday, reaching $24.27. The company had a trading volume of 3,686,064 shares, compared to its average volume of 1,715,615. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 40.47, a price-to-earnings-growth ratio of 2.26 and a beta of 1.31. The stock has a 50 day moving average price of $21.75 and a 200-day moving average price of $21.37. Progyny has a 1-year low of $13.39 and a 1-year high of $30.42.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly 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 analyst estimates of $307.86 million. Progyny had a net margin of 4.33% and a return on equity of 10.90%. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. As a group, research analysts anticipate that Progyny will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the sale, the director directly owned 14,112 shares in the company, valued at approximately $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.40% of the company's stock.

Institutional Trading of Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. Signaturefd LLC lifted its stake in shares of Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company's stock worth $25,000 after acquiring an additional 1,355 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Progyny in the first quarter worth approximately $44,000. Militia Capital Partners LP lifted its stake in shares of Progyny by 100.0% in the first 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 during the period. Natixis acquired a new position in shares of Progyny in the fourth quarter worth approximately $69,000. Finally, Brooklyn Investment Group lifted its stake in shares of Progyny by 5,216.4% in the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after acquiring an additional 3,182 shares during the period. 94.93% of the stock is currently owned by institutional investors.

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.