Progyny, Inc. (NASDAQ:PGNY – Get Free Report)’s share price was up 3.1% during trading on Wednesday . The company traded as high as $18.17 and last traded at $18.03. Approximately 296,243 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,545,136 shares. The stock had previously closed at $17.48.
Wall Street Analysts Forecast Growth
A number of research firms have commented on PGNY. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Canaccord Genuity Group decreased their price target on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Barclays decreased their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Finally, Bank of America cut their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.00.
Get Our Latest Analysis on PGNY
Progyny Price Performance
Progyny (NASDAQ:PGNY – Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter last year, the firm earned $0.16 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Progyny, Inc. will post 0.59 earnings per share for the current year.
Insider Buying and Selling at Progyny
In related news, Chairman David J. Schlanger acquired 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Anevski acquired 209,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the acquisition, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. The trade was a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.
Institutional Investors Weigh In On Progyny
Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Progyny by 4.5% during the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after purchasing an additional 134,861 shares during the last quarter. International Assets Investment Management LLC boosted its position in Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after buying an additional 2,412,068 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after purchasing an additional 2,472,983 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Progyny during the 3rd quarter worth $29,509,000. Finally, Farallon Capital Management LLC raised its stake in Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after acquiring an additional 715,900 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.
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.
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