Progyny, Inc. (NASDAQ:PGNY) Stock Has Average Price Target of $35.33

Progyny, Inc. (NASDAQ:PGNY) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.33.

Several equities research analysts have issued reports on PGNY shares. Wells Fargo & Company lifted their target price on shares of Progyny from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Citigroup restated a “market outperform” rating on shares of Progyny in a research report on Thursday, November 5th. Jefferies Financial Group set a $33.00 price target on shares of Progyny in a research note on Tuesday, September 8th. BTIG Research raised their price objective on shares of Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Leerink Partners boosted their target price on Progyny from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th.

Progyny Price Performance

PGNY stock opened at $36.58 on Tuesday. The firm’s 50-day moving average is $28.29 and its 200 day moving average is $24.82. The company has a market capitalization of $2.69 billion, a PE ratio of 33.56, a P/E/G ratio of 1.91 and a beta of 0.97. Progyny has a 12 month low of $16.10 and a 12 month high of $37.16.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. The firm had revenue of $341.25 million for the quarter, compared to the consensus estimate of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. Sell-side analysts forecast that Progyny will post 1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Allison Swartz sold 3,903 shares of Progyny stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $26.10, for a total transaction of $101,868.30. Following the completion of the sale, the executive vice president directly owned 75,816 shares in the company, valued at approximately $1,978,797.60. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark S. Livingston sold 2,139 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $30.00, for a total value of $64,170.00. Following the completion of the transaction, the chief financial officer directly owned 70,314 shares of the company’s stock, valued at approximately $2,109,420. This trade represents a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 629,298 shares of company stock valued at $22,334,902. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Progyny

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Progyny during the second quarter worth about $334,426,000. Bank of America Corp DE increased its position in Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after purchasing an additional 511,609 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Progyny during the 2nd quarter worth approximately $16,807,000. Danske Bank A S purchased a new position in Progyny in the second quarter valued at approximately $15,243,000. Finally, Jupiter Topco LLC purchased a new position in Progyny in the second quarter valued at approximately $12,986,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.