Progyny (NASDAQ:PGNY) Shares Up 3.1% – Should You Buy?

Progyny, Inc. (NASDAQ:PGNY)’s stock price shot up 3.1% on Wednesday . The stock traded as high as $18.17 and last traded at $18.03. 296,243 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,545,136 shares. The stock had previously closed at $17.48.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PGNY shares. Bank of America dropped their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 target price (down previously from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group reduced their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

Progyny Stock Up 2.8 %

The company has a market cap of $1.60 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31. The company’s 50-day moving average is $15.57 and its two-hundred day moving average is $19.95.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. On average, analysts anticipate that Progyny, Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, Chairman David J. Schlanger purchased 150,000 shares of Progyny stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now directly owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Peter Anevski bought 209,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following 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 position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

Hedge funds have recently modified their holdings of the business. Quarry LP increased its holdings in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Progyny in the 2nd quarter worth $44,000. GAMMA Investing LLC boosted its stake in shares of Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after buying an additional 1,246 shares during the last quarter. Mendota Financial Group LLC purchased a new position in shares of Progyny in the 3rd quarter worth $56,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Progyny in the 3rd quarter worth $77,000. Institutional investors own 94.93% of the company’s stock.

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.