Cantor Fitzgerald Reaffirms Overweight Rating for Progyny (NASDAQ:PGNY)

Cantor Fitzgerald reissued their overweight rating on shares of Progyny (NASDAQ:PGNYFree Report) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $48.00 price objective on the stock.

Several other analysts also recently weighed in on the company. KeyCorp downgraded Progyny from an overweight rating to a sector weight rating in a research note on Friday, May 10th. Barclays decreased their price objective on Progyny from $48.00 to $30.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Canaccord Genuity Group decreased their price target on shares of Progyny from $46.00 to $37.00 and set a buy rating on the stock in a research note on Friday, May 10th. SVB Leerink initiated coverage on shares of Progyny in a report on Monday, February 26th. They issued an outperform rating and a $49.00 target price for the company. Finally, BTIG Research dropped their price target on Progyny from $50.00 to $41.00 and set a buy rating for the company in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $43.11.

Check Out Our Latest Research Report on PGNY

Progyny Trading Up 2.0 %

PGNY stock opened at $28.09 on Thursday. Progyny has a 1-year low of $23.90 and a 1-year high of $44.95. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 46.05, a price-to-earnings-growth ratio of 2.02 and a beta of 1.51. The company’s 50 day moving average is $33.77 and its 200 day moving average is $35.47.

Progyny (NASDAQ:PGNYGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The firm had revenue of $278.08 million during the quarter, compared to analyst estimates of $289.41 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Progyny will post 0.67 EPS for the current fiscal year.

Insider Activity at Progyny

In other Progyny news, CFO Mark S. Livingston sold 11,165 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.62, for a total value of $420,027.30. Following the completion of the transaction, the chief financial officer now directly owns 50,119 shares in the company, valued at $1,885,476.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark S. Livingston sold 11,165 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.62, for a total transaction of $420,027.30. Following the transaction, the chief financial officer now directly owns 50,119 shares of the company’s stock, valued at $1,885,476.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman David J. Schlanger sold 5,826 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.74, for a total value of $219,873.24. Following the completion of the sale, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,257,414.88. The disclosure for this sale can be found here. Insiders have sold a total of 102,770 shares of company stock valued at $3,853,985 over the last ninety days. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PGNY. Parkside Financial Bank & Trust lifted its holdings in Progyny by 9.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after purchasing an additional 264 shares in the last quarter. Caprock Group LLC grew its stake in shares of Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after buying an additional 319 shares during the period. Arizona State Retirement System increased its stake in Progyny by 1.5% during the third quarter. Arizona State Retirement System now owns 22,848 shares of the company’s stock worth $777,000 after acquiring an additional 330 shares during the last quarter. RiverPark Advisors LLC raised its holdings 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 buying an additional 374 shares during the period. Finally, M&G Investment Management Ltd. raised its stake 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 acquiring an additional 387 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

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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