Progyny (NASDAQ:PGNY) Stock Price Expected to Rise, Bank of America Analyst Says

Progyny (NASDAQ:PGNY) had its price objective boosted by equities research analysts at Bank of America from $21.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 13.53% from the company’s current price.

Other analysts have also recently issued reports about the company. Barclays dropped their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on shares of Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Canaccord Genuity Group decreased their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Truist Financial reissued a “hold” rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.83.

Progyny Trading Down 1.7 %

NASDAQ:PGNY opened at $22.02 on Tuesday. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The company has a market cap of $1.88 billion, a P/E ratio of 37.97, a P/E/G ratio of 2.18 and a beta of 1.34. The company’s 50-day moving average price is $18.76 and its 200-day moving average price is $18.83.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Progyny will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Progyny news, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now directly owns 228,269 shares in the company, valued at $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Peter Anevski purchased 209,500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the purchase, the chief executive officer now owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This represents a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. increased its stake in shares of Progyny by 109.2% during the fourth quarter. Landscape Capital Management L.L.C. now owns 349,614 shares of the company’s stock worth $6,031,000 after buying an additional 182,457 shares during the period. Bryce Point Capital LLC purchased a new stake in shares of Progyny in the 4th quarter valued at approximately $353,000. Trexquant Investment LP raised its holdings in shares of Progyny by 1.9% in the 4th quarter. Trexquant Investment LP now owns 600,163 shares of the company’s stock valued at $10,353,000 after purchasing an additional 11,174 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Progyny by 15.7% in the 4th quarter. JPMorgan Chase & Co. now owns 425,682 shares of the company’s stock valued at $7,343,000 after purchasing an additional 57,606 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Progyny by 62.8% during the 4th quarter. WINTON GROUP Ltd now owns 75,515 shares of the company’s stock worth $1,303,000 after purchasing an additional 29,124 shares during the last quarter. Hedge funds and other 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.