Progyny (NASDAQ:PGNY) Lowered to Sector Weight at KeyCorp

KeyCorp lowered shares of Progyny (NASDAQ:PGNY - Free Report) from an overweight rating to a sector weight rating in a research report sent to investors on Friday, Marketbeat reports.

Several other research analysts have also weighed in on the company. Leerink Partnrs reaffirmed an outperform rating on shares of Progyny in a research report on Monday, February 26th. Cantor Fitzgerald reiterated an overweight rating and set a $48.00 price target on shares of Progyny in a research note on Wednesday, February 28th. Truist Financial reiterated a buy rating and set a $46.00 price target on shares of Progyny in a research note on Wednesday, April 17th. Finally, SVB Leerink began coverage on Progyny in a research note on Monday, February 26th. They set an outperform rating and a $49.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Progyny presently has an average rating of Moderate Buy and an average price target of $46.11.

Progyny Stock Down 15.3 %

Progyny stock traded down $4.97 during mid-day trading on Friday, hitting $27.53. 8,997,013 shares of the company's stock traded hands, compared to its average volume of 716,500. Progyny has a one year low of $23.90 and a one year high of $44.95. The firm has a 50 day moving average price of $34.67 and a 200 day moving average price of $35.59. The company has a market cap of $2.65 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $278.08 million for the quarter, compared to analysts' expectations of $289.41 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. On average, analysts expect that Progyny will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Progyny news, Chairman David J. Schlanger sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The stock was 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 in the company, valued at approximately $3,137,835.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Michael E. Sturmer sold 4,515 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the completion of the sale, the president now directly owns 380,038 shares of the company's stock, valued at approximately $12,142,214.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David J. Schlanger sold 1,000 shares of the firm's stock in a transaction 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 sale, the chairman now directly owns 83,631 shares of the company's stock, valued at $3,137,835.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,770 shares of company stock worth $3,853,985. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC boosted its position in Progyny by 54.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company's stock valued at $40,000 after buying an additional 374 shares during the last quarter. TFC Financial Management Inc. bought a new position in Progyny during the first quarter worth about $42,000. Financial Management Professionals Inc. acquired a new stake in shares of Progyny in the 1st quarter valued at about $52,000. Acadian Asset Management LLC acquired a new stake in shares of Progyny in the 3rd quarter valued at about $53,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Progyny by 9.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company's stock valued at $115,000 after purchasing an additional 264 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

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.