Progyny (NASDAQ:PGNY) Stock: Insider David Schlanger Sells 3,400 Shares

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 3,400 shares of Progyny stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $35.22, for a total value of $119,748.00. Following the sale, the chairman directly owned 238,462 shares in the company, valued at approximately $8,398,631.64. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Price Performance

Shares of NASDAQ PGNY traded up $1.11 during midday trading on Monday, hitting $35.95. 1,645,331 shares of the company’s stock were exchanged, compared to its average volume of 914,017. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $36.00. The firm has a market cap of $2.76 billion, a P/E ratio of 32.98, a PEG ratio of 2.08 and a beta of 0.97. The stock’s 50 day moving average price is $27.65 and its 200-day moving average price is $24.64.

Progyny (NASDAQ:PGNY) last posted its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.31 by $0.21. The firm had revenue of $341.25 million for the quarter, compared to analysts’ expectations of $340.76 million. Progyny had a return on equity of 19.23% and a net margin of 6.80%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, analysts expect that Progyny, Inc. will post 1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Progyny in the 2nd quarter worth approximately $29,000. Nykredit A S acquired a new position in Progyny in the second quarter worth approximately $38,000. IFP Advisors Inc grew its position in Progyny by 376.0% in the second quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock worth $57,000 after buying an additional 1,549 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of Progyny in the second quarter valued at $65,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Progyny during the 2nd quarter valued at $74,000. Institutional investors own 94.93% of the company’s stock.

Analysts Set New Price Targets

PGNY has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Progyny from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday. Barclays reduced their price objective on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Zacks Research lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Leerink Partners raised their target price on shares of Progyny from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Cantor Fitzgerald boosted their price target on shares of Progyny from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Progyny Company Profile

Progyny, Inc provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment.

The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.

Founded in 2008, Progyny serves employer clients and their workforces in the United States.