Progyny (NASDAQ:PGNY) Given New $37.00 Price Target at Truist Financial

Progyny (NASDAQ:PGNY - Free Report) had its price objective trimmed by Truist Financial from $46.00 to $37.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

PGNY has been the topic of several other reports. Canaccord Genuity Group cut their target price on Progyny from $46.00 to $37.00 and set a buy rating on the stock in a research report on Friday, May 10th. Cantor Fitzgerald reiterated an overweight rating and set a $48.00 target price on shares of Progyny in a report on Thursday. Barclays cut their price target on shares of Progyny from $48.00 to $30.00 and set an overweight rating on the stock in a report on Monday. BTIG Research decreased their price objective on shares of Progyny from $50.00 to $41.00 and set a buy rating for the company in a research note on Friday, May 10th. Finally, KeyCorp lowered shares of Progyny from an overweight rating to a sector weight rating in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $43.11.

Progyny Price Performance

PGNY traded up $0.54 during trading on Friday, hitting $28.09. The company's stock had a trading volume of 1,262,351 shares, compared to its average volume of 927,170. Progyny has a twelve month low of $23.90 and a twelve month high of $44.95. The stock has a market cap of $2.67 billion, a PE ratio of 45.61, a PEG ratio of 1.91 and a beta of 1.51. The firm's 50 day moving average price is $33.92 and its 200-day moving average price is $35.46.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The company had revenue of $278.08 million during the quarter, compared to analysts' expectations of $289.41 million. During the same quarter in the previous year, the business earned $0.18 EPS. The firm's revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that Progyny will post 0.66 earnings per share for the current year.

Insider Buying and Selling

In other Progyny news, President Michael E. Sturmer sold 4,515 shares of Progyny stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the completion of the transaction, the president now owns 380,038 shares of the company's stock, valued at $12,142,214.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Michael E. Sturmer sold 4,515 shares of the company'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 transaction, the president now directly owns 380,038 shares in the company, valued at approximately $12,142,214.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David J. Schlanger sold 71,272 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the sale, the chairman now owns 86,312 shares in the company, valued at $3,262,593.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,770 shares of company stock worth $3,853,985. Corporate insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Progyny

Large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in shares of Progyny by 9.3% during 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 in the last quarter. Caprock Group LLC increased its holdings in shares of Progyny by 5.3% in the first quarter. Caprock Group LLC now owns 6,288 shares of the company's stock valued at $240,000 after buying an additional 319 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Progyny by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 22,848 shares of the company's stock worth $777,000 after acquiring an additional 330 shares in the last quarter. RiverPark Advisors LLC raised its position in shares of Progyny by 54.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company's stock worth $40,000 after purchasing an additional 374 shares during the period. Finally, M&G Investment Management Ltd. lifted its holdings in shares of Progyny by 1.2% during the fourth quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company's stock valued at $1,220,000 after purchasing an additional 387 shares during the last quarter. Institutional investors and hedge funds 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.