Michael E. Sturmer Sells 4,515 Shares of Progyny, Inc. (NASDAQ:PGNY) Stock

Progyny, Inc. (NASDAQ:PGNY) President Michael E. Sturmer sold 4,515 shares of Progyny stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total value of $144,254.25. Following the completion of the sale, the president now directly owns 380,038 shares in the company, valued at approximately $12,142,214.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Progyny Stock Down 1.1 %

Shares of Progyny stock opened at $31.72 on Friday. The stock’s fifty day moving average is $35.24 and its two-hundred day moving average is $35.58. The company has a market capitalization of $3.05 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. Progyny, Inc. has a 52 week low of $29.44 and a 52 week high of $44.95.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. Progyny’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, research analysts anticipate that Progyny, Inc. will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently bought and sold shares of the business. RiverPark Advisors LLC grew its position in Progyny by 362.4% in the 1st quarter. RiverPark Advisors LLC now owns 4,934 shares of the company’s stock valued at $188,000 after acquiring an additional 3,867 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Progyny in the 1st quarter worth $247,000. Jennison Associates LLC lifted its holdings in shares of Progyny by 2.7% in the 1st quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after buying an additional 67,632 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Progyny by 122.2% in the 1st quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after buying an additional 69,552 shares during the period. Finally, Mckinley Capital Management LLC purchased a new stake in shares of Progyny in the 1st quarter worth $1,365,000. Institutional investors own 94.93% of the company’s stock.

Analyst Ratings Changes

PGNY has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Progyny in a research note on Wednesday, February 28th. KeyCorp reduced their price objective on Progyny from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. SVB Leerink initiated coverage on Progyny in a research note on Monday, February 26th. They issued an “outperform” rating and a $49.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Finally, Truist Financial reissued a “buy” rating and set a $46.00 target price on shares of Progyny in a research report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Progyny has a consensus rating of “Buy” and a consensus target price of $48.30.

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.