Brokerages Set Progyny, Inc. (NASDAQ:PGNY) PT at $48.30

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have received an average rating of "Buy" from the ten research firms that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $48.30.

Several brokerages have commented on PGNY. Cantor Fitzgerald reiterated an "overweight" rating and issued a $48.00 price target on shares of Progyny in a research note on Wednesday, February 28th. KeyCorp decreased their price target on shares of Progyny from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 28th. Leerink Partnrs reiterated an "outperform" rating on shares of Progyny in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of Progyny in a research note on Monday, February 26th. They issued an "outperform" rating and a $49.00 price target on the stock. Finally, Truist Financial restated a "buy" rating and set a $46.00 target price on shares of Progyny in a research report on Wednesday, April 17th.

Insider Activity at Progyny

In other Progyny news, Chairman David J. Schlanger sold 20,000 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $38.50, for a total value of $770,000.00. Following the transaction, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,323,012. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman David J. Schlanger sold 1,000 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the sale, the chairman now owns 83,631 shares of the company's stock, valued at approximately $3,137,835.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David J. Schlanger sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $38.50, for a total transaction of $770,000.00. Following the completion of the sale, the chairman now directly owns 86,312 shares of the company's stock, valued at approximately $3,323,012. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,515 shares of company stock worth $4,570,131. Insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Progyny

Several hedge funds have recently modified their holdings of PGNY. CWM LLC lifted its position in shares of Progyny by 16.1% in the 3rd quarter. CWM LLC now owns 3,490 shares of the company's stock worth $119,000 after purchasing an additional 483 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Progyny by 4.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,931 shares of the company's stock worth $337,000 after purchasing an additional 450 shares during the period. Harbor Capital Advisors Inc. lifted its position in Progyny by 27.9% during the third quarter. Harbor Capital Advisors Inc. now owns 53,752 shares of the company's stock valued at $1,829,000 after acquiring an additional 11,726 shares during the last quarter. Xponance Inc. lifted its position in Progyny by 3.6% during the third quarter. Xponance Inc. now owns 11,629 shares of the company's stock valued at $396,000 after acquiring an additional 399 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Progyny by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 769,262 shares of the company's stock valued at $26,170,000 after acquiring an additional 20,182 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company's stock.

Progyny Trading Up 1.6 %

Shares of PGNY traded up $0.50 during trading hours on Monday, reaching $32.54. 545,990 shares of the stock traded hands, compared to its average volume of 778,673. Progyny has a 52-week low of $29.44 and a 52-week high of $44.95. The company's 50-day moving average price is $35.68 and its two-hundred day moving average price is $35.64. The company has a market cap of $3.13 billion, a P/E ratio of 52.48, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The company had revenue of $269.94 million for the quarter, compared to analysts' expectations of $274.08 million. During the same quarter in the previous year, the company earned $0.03 EPS. Progyny's revenue for the quarter was up 26.0% on a year-over-year basis. On average, research analysts forecast that Progyny will post 0.7 EPS for the current year.

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.