Progyny, Inc. (NASDAQ:PGNY) Receives Average Rating of "Hold" from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have been given a consensus rating of "Hold" by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.45.

Several analysts have recently weighed in on PGNY shares. BTIG Research raised Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective on the stock in a report on Monday, March 31st. Canaccord Genuity Group reduced their target price on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Monday, May 12th.

Progyny Price Performance

NASDAQ:PGNY opened at $21.91 on Friday. Progyny has a one year low of $13.39 and a one year high of $30.42. The company has a fifty day moving average price of $21.84 and a 200 day moving average price of $20.99. The stock has a market cap of $1.88 billion, a P/E ratio of 38.44, a PEG ratio of 2.26 and a beta of 1.32.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $307.86 million. During the same quarter in the previous year, the business posted $0.17 EPS. The firm's quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts anticipate that Progyny will post 0.6 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Progyny

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Progyny by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 8,692,132 shares of the company's stock worth $149,939,000 after purchasing an additional 48,271 shares during the last quarter. River Road Asset Management LLC acquired a new position in Progyny during the 4th quarter worth about $25,529,000. Barclays PLC lifted its position in Progyny by 95.7% during the 4th quarter. Barclays PLC now owns 1,382,205 shares of the company's stock worth $23,843,000 after buying an additional 676,048 shares in the last quarter. Millennium Management LLC grew its holdings in Progyny by 7.5% during the 1st quarter. Millennium Management LLC now owns 1,302,890 shares of the company's stock worth $29,107,000 after acquiring an additional 90,367 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its position in Progyny by 85.5% in the 4th quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock valued at $20,665,000 after acquiring an additional 552,066 shares in the last quarter. 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.

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