Insider Selling: Progyny, Inc. (NASDAQ:PGNY) Chairman Sells $219,873.24 in Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger sold 5,826 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total transaction of $219,873.24. Following the completion of the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,257,414.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Progyny Stock Up 2.6 %

NASDAQ:PGNY opened at $37.99 on Thursday. The company has a market cap of $3.67 billion, a P/E ratio of 61.27, a price-to-earnings-growth ratio of 1.53 and a beta of 1.48. Progyny, Inc. has a twelve month low of $29.44 and a twelve month high of $44.95. The business has a 50 day moving average price of $37.92 and a two-hundred day moving average price of $35.60.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $269.94 million for the quarter, compared to analyst estimates of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, analysts anticipate that Progyny, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PGNY has been the topic of several recent analyst reports. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a report on Monday, February 26th. SVB Leerink began coverage on Progyny in a report on Monday, February 26th. They set an “outperform” rating and a $49.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 target price on shares of Progyny in a research note on Wednesday, February 28th. Barclays started coverage on shares of Progyny in a report on Wednesday, January 3rd. They set an “overweight” rating and a $48.00 target price on the stock. Finally, KeyCorp reduced their price target on shares of Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $48.30.

Hedge Funds Weigh In On Progyny

A number of large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its position in shares of Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after acquiring an additional 264 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Progyny by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 86,333 shares of the company’s stock worth $3,396,000 after purchasing an additional 276 shares during the last quarter. Arizona State Retirement System increased its position in shares of Progyny by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 22,848 shares of the company’s stock worth $777,000 after purchasing an additional 330 shares during the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Progyny by 54.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock valued at $40,000 after buying an additional 374 shares during the last quarter. Finally, M&G Investment Management Ltd. boosted its holdings in shares of Progyny by 1.2% in the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock valued at $1,220,000 after buying an additional 387 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.