Canaccord Genuity Group Issues Positive Forecast for Progyny (NASDAQ:PGNY) Stock Price

Progyny (NASDAQ:PGNY) had its target price raised by analysts at Canaccord Genuity Group from $17.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 3.27% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Truist Financial reiterated a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Bank of America raised their target price on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Barclays reduced their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Progyny has an average rating of “Hold” and an average target price of $26.33.

Progyny Stock Performance

Progyny stock traded down $0.61 during midday trading on Friday, reaching $22.27. 2,080,587 shares of the stock were exchanged, compared to its average volume of 1,795,379. Progyny has a 52 week low of $13.39 and a 52 week high of $38.98. The firm has a market cap of $1.90 billion, a PE ratio of 38.63, a PEG ratio of 2.39 and a beta of 1.34. The company’s fifty day moving average is $20.52 and its 200-day moving average is $18.68.

Insider Transactions at Progyny

In other news, CEO Peter Anevski bought 209,500 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David J. Schlanger purchased 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction 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 approximately $3,350,988.92. This trade represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

A number of institutional investors have recently modified their holdings of PGNY. Louisiana State Employees Retirement System lifted its position in Progyny by 62.4% during the third quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the company’s stock valued at $637,000 after acquiring an additional 14,600 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Progyny by 397.7% during the third quarter. State of Alaska Department of Revenue now owns 44,819 shares of the company’s stock worth $751,000 after acquiring an additional 35,813 shares during the last quarter. F M Investments LLC boosted its stake in Progyny by 58.7% in the 3rd quarter. F M Investments LLC now owns 18,078 shares of the company’s stock worth $303,000 after purchasing an additional 6,684 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in Progyny during the 3rd quarter worth approximately $126,000. Finally, Olympiad Research LP acquired a new position in Progyny during the 3rd quarter valued at approximately $253,000. 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.