Progyny (NASDAQ:PGNY) Upgraded to "Strong-Buy" at Leerink Partnrs

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by equities research analysts at Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. 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 upgraded shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a report on Monday, March 31st. Finally, Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.09.

Progyny Price Performance

Shares of NASDAQ:PGNY traded down $0.49 during trading on Tuesday, reaching $23.78. 1,603,413 shares of the company were exchanged, compared to its average volume of 1,715,168. The firm has a market capitalization of $2.04 billion, a PE ratio of 41.72, a P/E/G ratio of 2.26 and a beta of 1.31. The business's fifty day simple moving average is $21.78 and its 200-day simple moving average is $21.39. Progyny has a 12-month low of $13.39 and a 12-month high of $30.42.

Progyny (NASDAQ:PGNY - Get Free Report) last announced 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). The firm had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. Progyny had a net margin of 4.33% and a return on equity of 10.90%. Progyny's revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, sell-side analysts anticipate that Progyny will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 2,675 shares of the business'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 transaction, the director owned 14,112 shares in the company, valued at $311,451.84. The trade was a 15.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Progyny

Institutional investors have recently modified their holdings of the business. Leibman Financial Services Inc. lifted its stake in shares of Progyny by 1.1% in the 2nd 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 lifted its position in shares of Progyny by 258.2% in the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company's stock valued at $4,144,000 after acquiring an additional 133,703 shares in the last quarter. Militia Capital Partners LP lifted its position in shares of Progyny by 100.0% in the 1st quarter. Militia Capital Partners LP now owns 2,000 shares of the company's stock valued at $45,000 after acquiring an additional 1,000 shares in the last quarter. Acadian Asset Management LLC increased its stake in Progyny by 243.6% in the 1st quarter. Acadian Asset Management LLC now owns 205,650 shares of the company's stock valued at $4,589,000 after buying an additional 145,802 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in Progyny in the 1st quarter valued at approximately $344,000. Institutional investors 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.