Bank of America Raises Progyny (NASDAQ:PGNY) Price Target to $25.00

Progyny (NASDAQ:PGNY) had its price objective hoisted by analysts at Bank of America from $21.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 10.62% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial restated a “hold” rating and issued a $19.00 price target (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Canaccord Genuity Group reduced their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Barclays decreased their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.83.

Progyny Stock Up 3.1 %

NASDAQ:PGNY opened at $22.60 on Tuesday. The firm has a market capitalization of $1.92 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The stock’s 50-day simple moving average is $18.47 and its 200 day simple moving average is $18.86.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Progyny will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Progyny

In related news, Chairman David J. Schlanger acquired 150,000 shares of Progyny stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the purchase, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. The trade was a 191.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Peter Anevski purchased 209,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the transaction, the chief executive officer now owns 441,463 shares of the company’s stock, valued at $6,392,384.24. The trade was a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PGNY. Pacer Advisors Inc. grew its holdings in Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after acquiring an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Progyny by 1,576.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after buying an additional 2,412,068 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Progyny during the third quarter worth $29,509,000. River Road Asset Management LLC acquired a new stake in Progyny in the fourth quarter valued at approximately $25,529,000. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Progyny by 90.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock worth $25,319,000 after purchasing an additional 695,740 shares in the last quarter. 94.93% of the stock is currently owned by 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.