Progyny (NASDAQ:PGNY) Price Target Raised to $23.00 at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $17.00 to $23.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 2.67% from the company’s current price.

Several other equities research analysts have also weighed in on PGNY. Canaccord Genuity Group lowered their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Barclays dropped 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. Bank of America reduced their price target on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Truist Financial reaffirmed a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price objective on shares of Progyny in a report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.50.

Progyny Stock Up 3.0 %

Shares of PGNY traded up $0.68 during mid-day trading on Tuesday, hitting $23.63. 135,675 shares of the company’s stock were exchanged, compared to its average volume of 1,984,713. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The firm has a fifty day moving average of $16.91 and a two-hundred day moving average of $19.25. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 40.74, a P/E/G ratio of 2.11 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share 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 the consensus estimate 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 quarter in the previous year, the company earned $0.16 EPS. On average, equities analysts predict that Progyny will post 0.6 earnings per share for the current year.

Insider Activity at Progyny

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

Hedge Funds Weigh In On Progyny

A number of institutional investors have recently bought and sold shares of PGNY. Pacer Advisors Inc. increased its holdings in shares of Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after purchasing an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC raised its stake in 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 purchasing an additional 2,412,068 shares during the period. Invenomic Capital Management LP purchased a new stake in Progyny during the 3rd quarter valued at approximately $29,509,000. Fort Washington Investment Advisors Inc. OH boosted its position 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 acquiring an additional 695,740 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Progyny by 530.4% during the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after purchasing an additional 594,140 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

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.