BTIG Research Trims Progyny (NASDAQ:PGNY) Target Price to $41.00

Progyny (NASDAQ:PGNYFree Report) had its target price cut by BTIG Research from $50.00 to $41.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the stock. Leerink Partnrs reissued an outperform rating on shares of Progyny in a research report on Monday, February 26th. Truist Financial reissued a buy rating and set a $46.00 target price on shares of Progyny in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $48.00 price target on shares of Progyny in a report on Wednesday, February 28th. KeyCorp cut Progyny from an overweight rating to a sector weight rating in a research report on Friday. Finally, SVB Leerink assumed coverage on Progyny in a report on Monday, February 26th. They set an outperform rating and a $49.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $44.11.

View Our Latest Analysis on Progyny

Progyny Stock Performance

NASDAQ PGNY traded down $0.17 on Friday, hitting $27.36. 1,765,228 shares of the stock traded hands, compared to its average volume of 898,597. The business’s fifty day moving average is $34.50 and its two-hundred day moving average is $35.62. Progyny has a 12 month low of $23.90 and a 12 month high of $44.95. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 44.82, a PEG ratio of 1.19 and a beta of 1.51.

Progyny (NASDAQ:PGNYGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The company had revenue of $278.08 million during the quarter, compared to the consensus estimate of $289.41 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect that Progyny will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Progyny news, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Progyny news, President Michael E. Sturmer sold 4,515 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the sale, the president now owns 380,038 shares in the company, valued at $12,142,214.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David J. Schlanger sold 71,272 shares of Progyny stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the sale, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Insiders sold a total of 102,770 shares of company stock worth $3,853,985 over the last ninety days. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Progyny by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 769,262 shares of the company’s stock worth $26,170,000 after acquiring an additional 20,182 shares in the last quarter. Brown Advisory Inc. raised its position in Progyny by 3.9% in the 3rd quarter. Brown Advisory Inc. now owns 10,611 shares of the company’s stock worth $361,000 after purchasing an additional 403 shares during the period. New York State Teachers Retirement System lifted its stake in Progyny by 1.8% in the third quarter. New York State Teachers Retirement System now owns 76,934 shares of the company’s stock worth $2,617,000 after purchasing an additional 1,390 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Progyny by 25.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,530 shares of the company’s stock worth $426,000 after purchasing an additional 2,533 shares during the last quarter. Finally, Strs Ohio boosted its position in Progyny by 191.4% during the third quarter. Strs Ohio now owns 10,200 shares of the company’s stock valued at $347,000 after buying an additional 6,700 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Company Profile

(Get Free Report)

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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Analyst Recommendations for Progyny (NASDAQ:PGNY)

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