Brokerages Set Progyny, Inc. (NASDAQ:PGNY) Target Price at $24.82

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.82.

Several research analysts have weighed in on PGNY shares. Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a research report on Tuesday, July 8th. Truist Financial upped their price target on shares of Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Canaccord Genuity Group cut their target price on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Monday, May 12th. BTIG Research raised shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective for the company in a research note on Monday, March 31st. Finally, Leerink Partnrs raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th.

Progyny Stock Up 1.4%

Progyny stock traded up $0.32 during trading hours on Wednesday, hitting $23.32. The stock had a trading volume of 281,652 shares, compared to its average volume of 1,448,292. The stock's 50-day moving average price is $21.91 and its 200-day moving average price is $21.92. Progyny has a 12-month low of $13.39 and a 12-month high of $29.65. The stock has a market capitalization of $2.00 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a net margin of 4.33% and a return on equity of 10.90%. The company had revenue of $324.04 million for the quarter, compared to analysts' expectations of $307.86 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts expect that Progyny will post 0.6 EPS for the current fiscal year.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the sale, the director directly owned 14,112 shares of the company's stock, valued at $311,451.84. This represents a 15.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.40% of the company's stock.

Institutional Trading of Progyny

A number of hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its holdings in Progyny by 0.7% during the first quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock worth $1,635,000 after buying an additional 500 shares in the last quarter. Leibman Financial Services Inc. raised its position in Progyny by 1.1% during the second quarter. Leibman Financial Services Inc. now owns 45,946 shares of the company's stock worth $1,011,000 after acquiring an additional 513 shares during the period. Voya Investment Management LLC raised its position in Progyny by 1.4% during the fourth quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock worth $893,000 after acquiring an additional 701 shares during the period. Polen Capital Management LLC raised its position in Progyny by 0.3% during the first quarter. Polen Capital Management LLC now owns 261,506 shares of the company's stock worth $5,842,000 after acquiring an additional 798 shares during the period. Finally, Militia Capital Partners LP raised its position in Progyny by 100.0% during 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. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.