Progyny, Inc. (NASDAQ:PGNY – Get Free Report)’s stock price gapped down before the market opened on Wednesday after KeyCorp lowered their price target on the stock from $45.00 to $43.00. The stock had previously closed at $40.79, but opened at $36.18. KeyCorp currently has an overweight rating on the stock. Progyny shares last traded at $34.03, with a volume of 610,909 shares changing hands.
A number of other equities analysts also recently issued reports on PGNY. Barclays assumed coverage on Progyny in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $48.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of Progyny in a research note on Monday. SVB Leerink assumed coverage on Progyny in a research note on Monday. They issued an “outperform” rating and a $49.00 price target on the stock. Finally, Truist Financial dropped their price target on Progyny from $52.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $48.40.
Insider Buying and Selling at Progyny
In other Progyny news, President Michael E. Sturmer sold 12,696 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $34.13, for a total transaction of $433,314.48. Following the sale, the president now directly owns 173,806 shares of the company’s stock, valued at $5,931,998.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, President Michael E. Sturmer sold 2,260 shares of the firm’s stock in a transaction dated 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 owns 158,532 shares in the company, valued at $6,341,280. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Michael E. Sturmer sold 12,696 shares of Progyny stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $34.13, for a total value of $433,314.48. Following the completion of the transaction, the president now owns 173,806 shares of the company’s stock, valued at approximately $5,931,998.78. The disclosure for this sale can be found here. Insiders have sold a total of 322,369 shares of company stock valued at $12,052,491 over the last ninety days. 14.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC grew its position in Progyny by 54.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock worth $40,000 after acquiring an additional 374 shares in the last quarter. Headlands Technologies LLC purchased a new position in Progyny in the second quarter worth about $41,000. Rockefeller Capital Management L.P. boosted its position in shares of Progyny by 3,119.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,674 shares of the company’s stock valued at $50,000 after buying an additional 1,622 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Progyny during the third quarter valued at approximately $53,000. Finally, Lazard Asset Management LLC boosted its position in shares of Progyny by 45.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,763 shares of the company’s stock valued at $54,000 after buying an additional 549 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.
Progyny Price Performance
The company has a 50-day simple moving average of $38.61 and a 200-day simple moving average of $35.81. The firm has a market cap of $3.26 billion, a PE ratio of 65.44, a price-to-earnings-growth ratio of 1.39 and a beta of 1.51.
Progyny (NASDAQ:PGNY – Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. Progyny had a return on equity of 11.64% and a net margin of 5.03%. The business had revenue of $269.94 million during the quarter, compared to analyst estimates of $274.08 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, equities research analysts predict that Progyny, Inc. will post 0.57 earnings per share for the current year.
About Progyny
Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.