Truist Financial Reaffirms Buy Rating for Progyny (NASDAQ:PGNY)

Truist Financial restated their buy rating on shares of Progyny (NASDAQ:PGNY) in a report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $46.00 price objective on the stock.

PGNY has been the subject of several other research reports. Cantor Fitzgerald restated an overweight rating and issued a $48.00 target price on shares of Progyny in a report on Wednesday, February 28th. Barclays started coverage on shares of Progyny in a report on Wednesday, January 3rd. They issued an overweight rating and a $48.00 target price for the company. Leerink Partnrs reiterated an outperform rating on shares of Progyny in a report on Monday, February 26th. KeyCorp decreased their price objective 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. Finally, SVB Leerink started coverage on shares of Progyny in a report on Monday, February 26th. They set an outperform rating and a $49.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Progyny currently has a consensus rating of Buy and an average target price of $48.30.

Progyny Stock Up 2.6 %

Shares of NASDAQ:PGNY opened at $32.70 on Wednesday. Progyny has a 52 week low of $29.44 and a 52 week high of $44.95. The stock has a market capitalization of $3.14 billion, a P/E ratio of 52.74, a PEG ratio of 1.31 and a beta of 1.48. The firm has a fifty day simple moving average of $36.68 and a two-hundred day simple moving average of $35.65.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $269.94 million during 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 business’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. On average, analysts expect that Progyny will post 0.7 earnings per share for the current year.

Insider Activity

In other news, President Michael E. Sturmer sold 2,260 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the completion of the sale, the president now owns 158,532 shares in the company, valued at approximately $6,341,280. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman David J. Schlanger sold 20,000 shares of Progyny stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $38.50, for a total value of $770,000.00. Following the transaction, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,323,012. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael E. Sturmer sold 2,260 shares of Progyny stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $40.00, for a total transaction of $90,400.00. Following the completion of the transaction, the president now directly owns 158,532 shares in the company, valued at approximately $6,341,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,515 shares of company stock worth $4,570,131. 14.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PGNY. BlackRock Inc. grew its position in Progyny by 3.8% during the 1st quarter. BlackRock Inc. now owns 9,700,353 shares of the company’s stock worth $311,575,000 after purchasing an additional 353,499 shares during the last quarter. Vanguard Group Inc. grew its position in Progyny by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,270,153 shares of the company’s stock worth $307,484,000 after purchasing an additional 112,549 shares during the last quarter. International Assets Investment Management LLC grew its position in Progyny by 352,414.2% during the 4th quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock worth $218,485,000 after purchasing an additional 5,874,744 shares during the last quarter. Clearbridge Investments LLC grew its position in Progyny by 2.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,223,502 shares of the company’s stock worth $165,688,000 after purchasing an additional 86,249 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Progyny by 11.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 2,885,980 shares of the company’s stock worth $92,698,000 after purchasing an additional 293,192 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.