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

Progyny (NASDAQ:PGNY)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a report issued on Wednesday, Benzinga reports. They currently have a $46.00 price objective on the stock. Truist Financial’s target price would suggest a potential upside of 39.56% from the company’s current price.

Other research analysts have also issued reports about the company. KeyCorp reduced their price target on Progyny from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays started coverage on Progyny in a report on Wednesday, January 3rd. They set an “overweight” rating and a $48.00 target price on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Progyny in a report on Wednesday, February 28th. Finally, SVB Leerink started coverage on Progyny in a report on Monday, February 26th. They set an “outperform” rating and a $49.00 target price on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $48.30.

Progyny Trading Down 1.3 %

Shares of NASDAQ:PGNY traded down $0.43 during midday trading on Wednesday, hitting $32.96. The company had a trading volume of 442,754 shares, compared to its average volume of 775,940. Progyny has a 12 month low of $29.44 and a 12 month high of $44.95. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 1.39 and a beta of 1.48. The firm has a fifty day simple moving average of $37.15 and a 200 day simple moving average of $35.71.

Progyny (NASDAQ:PGNY) last posted its quarterly 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. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The business had revenue of $269.94 million for the quarter, compared to analyst estimates of $274.08 million. During the same period last year, the company earned $0.03 EPS. The firm’s revenue was up 26.0% on a year-over-year basis. Equities analysts forecast that Progyny will post 0.7 EPS for the current fiscal year.

Insider Activity

In other news, Chairman David J. Schlanger sold 20,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $38.50, for a total value of $770,000.00. Following the sale, the chairman now directly owns 86,312 shares in the company, valued at $3,323,012. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman David J. Schlanger sold 20,000 shares of the company’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 in the company, valued at $3,323,012. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark S. Livingston sold 11,165 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.62, for a total value of $420,027.30. Following the sale, the chief financial officer now owns 50,119 shares in the company, valued at approximately $1,885,476.78. The disclosure for this sale can be found here. Insiders have sold a total of 120,515 shares of company stock worth $4,570,131 over the last three months. Corporate insiders own 14.00% of the company’s stock.

Institutional Trading of Progyny

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in Progyny in the first quarter valued at approximately $52,000. Radnor Capital Management LLC raised its stake in Progyny by 22.4% in the first quarter. Radnor Capital Management LLC now owns 37,220 shares of the company’s stock valued at $1,420,000 after buying an additional 6,810 shares during the period. Congress Asset Management Co. MA raised its stake in Progyny by 11.8% in the first quarter. Congress Asset Management Co. MA now owns 1,009,483 shares of the company’s stock valued at $38,512,000 after buying an additional 106,574 shares during the period. NBC Securities Inc. raised its stake in Progyny by 12.7% in the first quarter. NBC Securities Inc. now owns 25,172 shares of the company’s stock valued at $961,000 after buying an additional 2,845 shares during the period. Finally, Vanguard Group Inc. raised its stake in Progyny by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 8,270,153 shares of the company’s stock valued at $307,484,000 after buying an additional 112,549 shares during the period. 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.