Analysts Set Progyny, Inc. (NASDAQ:PGNY) Target Price at $48.30

Progyny, Inc. (NASDAQ:PGNY) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $48.30.

A number of analysts have recently issued reports on PGNY shares. Barclays assumed coverage on shares of Progyny in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $48.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 price target on shares of Progyny in a research note on Wednesday, February 28th. Truist Financial reiterated a “buy” rating and issued a $46.00 price target on shares of Progyny in a report on Wednesday, April 17th. Leerink Partnrs restated an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Finally, SVB Leerink started coverage on Progyny in a report on Monday, February 26th. They issued an “outperform” rating and a $49.00 target price for the company.

Insiders Place Their Bets

In other Progyny news, Chairman David J. Schlanger sold 20,000 shares of the firm’s 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 directly owns 86,312 shares of the company’s stock, valued at approximately $3,323,012. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Michael E. Sturmer sold 2,260 shares of the company’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 of the company’s stock, valued at $6,341,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David J. Schlanger sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $38.50, for a total transaction of $770,000.00. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at $3,323,012. The disclosure for this sale can be found here. Insiders have sold a total of 120,515 shares of company stock valued at $4,570,131 in the last 90 days. 12.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Progyny

Hedge funds have recently made changes to their positions in the stock. RiverPark Advisors LLC grew its position in 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 acquiring an additional 374 shares in the last quarter. TFC Financial Management Inc. acquired a new position in shares of Progyny in the first quarter valued at approximately $42,000. Financial Management Professionals Inc. purchased a new stake in Progyny during the 1st quarter worth approximately $52,000. Acadian Asset Management LLC acquired a new stake in Progyny during the 3rd quarter worth approximately $53,000. Finally, Parkside Financial Bank & Trust boosted its position in Progyny by 9.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Trading Up 0.7 %

NASDAQ:PGNY opened at $32.29 on Monday. The business’s 50-day moving average is $35.51 and its 200 day moving average is $35.63. Progyny has a 12 month low of $29.44 and a 12 month high of $44.95. The company has a market capitalization of $3.10 billion, a P/E ratio of 52.08, a P/E/G ratio of 1.35 and a beta of 1.48.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm had revenue of $269.94 million during the quarter, compared to the consensus estimate of $274.08 million. During the same quarter last year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, research analysts forecast that Progyny will post 0.7 earnings per share for the current year.

About Progyny

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.