Progyny (NASDAQ:PGNY) Price Target Cut to $41.00

Progyny (NASDAQ:PGNY) had its price target decreased by analysts at BTIG Research from $50.00 to $41.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 62.57% from the stock’s previous close.

PGNY has been the topic of several other research reports. SVB Leerink began coverage on Progyny in a research note on Monday, February 26th. They set an “outperform” rating and a $49.00 price target on the stock. Truist Financial restated a “buy” rating and issued a $46.00 target price on shares of Progyny in a research note on Wednesday, April 17th. KeyCorp downgraded Progyny from an “overweight” rating to a “sector weight” rating in a research note on Friday. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a research report on Monday, February 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 target price on shares of Progyny in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.11.

Progyny Stock Performance

NASDAQ:PGNY traded down $7.28 during trading hours on Friday, reaching $25.22. The stock had a trading volume of 5,384,960 shares, compared to its average volume of 849,723. The stock has a market capitalization of $2.42 billion, a PE ratio of 40.90, a PEG ratio of 1.31 and a beta of 1.51. The company has a 50 day moving average price of $34.67 and a two-hundred day moving average price of $35.59. Progyny has a 52 week low of $23.90 and a 52 week high of $44.95.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company had revenue of $278.08 million during the quarter, compared to analysts’ expectations of $289.41 million. During the same quarter in the previous year, the business earned $0.18 EPS. Progyny’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Progyny will post 0.7 EPS for the current year.

Insider Activity at Progyny

In related news, President Michael E. Sturmer sold 6,395 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the completion of the sale, the president now owns 384,553 shares of the company’s stock, valued at $14,459,192.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Progyny news, President Michael E. Sturmer sold 6,395 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.60, for a total transaction of $240,452.00. Following the completion of the sale, the president now owns 384,553 shares of the company’s stock, valued at $14,459,192.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David J. Schlanger sold 5,826 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $37.74, for a total value of $219,873.24. Following 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. Over the last 90 days, insiders sold 102,770 shares of company stock valued at $3,853,985. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PGNY. International Assets Investment Management LLC boosted its position in shares of Progyny by 352,414.2% during the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock worth $218,485,000 after buying an additional 5,874,744 shares during the period. Vanguard Group Inc. boosted its holdings in Progyny by 7.4% in the third quarter. Vanguard Group Inc. now owns 8,157,604 shares of the company’s stock valued at $277,522,000 after purchasing an additional 565,160 shares during the period. Jennison Associates LLC boosted its holdings in Progyny by 19.4% in the third quarter. Jennison Associates LLC now owns 2,706,454 shares of the company’s stock valued at $92,074,000 after purchasing an additional 438,932 shares during the period. Wellington Management Group LLP purchased a new position in Progyny in the fourth quarter valued at $14,608,000. Finally, Norges Bank purchased a new position in Progyny in the fourth quarter valued at $14,198,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.