Truist Financial Reiterates "Buy" Rating for Progyny (NASDAQ:PGNY)

Progyny (NASDAQ:PGNY - Get Free Report)'s stock had its "buy" rating restated by analysts at Truist Financial in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $46.00 price objective on the stock. Truist Financial's target price suggests a potential upside of 40.46% from the company's current price.

PGNY has been the subject of several other research reports. Barclays started coverage on shares of Progyny in a research report on Wednesday, January 3rd. They set an "overweight" rating and a $48.00 price objective for the company. KeyCorp reduced their price objective on shares of Progyny from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, February 28th. SVB Leerink started coverage on shares of Progyny in a research report on Monday, February 26th. They set an "outperform" rating and a $49.00 price objective for the company. Leerink Partnrs restated an "outperform" rating on shares of Progyny in a research report on Monday, February 26th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $48.30.

Progyny Price Performance

Shares of PGNY stock traded down $0.64 during trading hours on Wednesday, reaching $32.75. The stock had a trading volume of 637,559 shares, compared to its average volume of 779,155. Progyny has a twelve month low of $29.44 and a twelve month high of $44.95. The firm has a 50-day simple moving average of $37.01 and a 200-day simple moving average of $35.69. The firm has a market capitalization of $3.15 billion, a PE ratio of 52.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.48.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping 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 business had revenue of $269.94 million for the quarter, compared to analysts' expectations of $274.08 million. During the same quarter last year, the company earned $0.03 EPS. The company's revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities analysts anticipate that Progyny will post 0.7 earnings per share for the current year.

Insider Transactions at Progyny

In other news, President Michael E. Sturmer sold 2,260 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the completion of the sale, the president now directly owns 158,532 shares of the company's stock, valued at $6,341,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Michael E. Sturmer sold 6,395 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.60, for a total value of $240,452.00. Following the completion of the sale, the president now directly owns 384,553 shares of the company's stock, valued at $14,459,192.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael E. Sturmer sold 2,260 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $40.00, for a total transaction of $90,400.00. Following the completion of the sale, the president now directly owns 158,532 shares of the company's stock, valued at $6,341,280. The disclosure for this sale can be found here. Insiders sold 120,515 shares of company stock valued at $4,570,131 over the last three months. 14.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. RiverPark Advisors LLC raised its position in Progyny by 54.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company's stock valued at $40,000 after acquiring an additional 374 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Progyny by 3,119.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,674 shares of the company's stock valued at $50,000 after acquiring an additional 1,622 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Progyny during the first quarter valued at approximately $52,000. Acadian Asset Management LLC bought a new position in Progyny during the third quarter valued at approximately $53,000. Finally, Lazard Asset Management LLC raised its position in Progyny by 45.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,763 shares of the company's stock valued at $54,000 after acquiring an additional 549 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

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.