Progyny, Inc. (NASDAQ:PGNY) Receives Average Rating of “Hold” from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been assigned a consensus rating of “Hold” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.82.

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a report 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, Canaccord Genuity Group increased their price objective on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a report on Friday, February 28th.

Insider Buying and Selling at Progyny

In related news, Chairman David J. Schlanger acquired 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were bought at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares in the company, valued at $3,350,988.92. This trade represents a 191.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Progyny by 56.8% during the third quarter. Victory Capital Management Inc. now owns 113,336 shares of the company’s stock worth $1,900,000 after buying an additional 41,035 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Progyny during the 3rd quarter worth about $77,000. King Luther Capital Management Corp lifted its holdings in shares of Progyny by 39.1% during the 3rd quarter. King Luther Capital Management Corp now owns 164,760 shares of the company’s stock worth $2,761,000 after acquiring an additional 46,281 shares during the period. Aurora Investment Counsel acquired a new stake in shares of Progyny during the 3rd quarter valued at about $1,280,000. Finally, Intech Investment Management LLC increased its stake in Progyny by 282.0% in the third quarter. Intech Investment Management LLC now owns 42,013 shares of the company’s stock valued at $704,000 after acquiring an additional 31,014 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Stock Up 0.9 %

PGNY stock opened at $22.05 on Thursday. The firm has a 50 day moving average of $21.96 and a two-hundred day moving average of $18.54. Progyny has a 12 month low of $13.39 and a 12 month high of $38.98. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 2.39 and a beta of 1.41.

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.