Progyny’s (PGNY) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Progyny (NASDAQ:PGNY) in a report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $46.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays began coverage on shares of Progyny in a research report on Wednesday, January 3rd. They set an overweight rating and a $48.00 price target on the stock. KeyCorp cut their price target on shares of Progyny from $45.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday, February 28th. SVB Leerink initiated coverage on shares of Progyny in a research report on Monday, February 26th. They set an outperform rating and a $49.00 price target on the stock. Leerink Partnrs restated an outperform rating on shares of Progyny in a research note on Monday, February 26th. Finally, Cantor Fitzgerald restated an overweight rating and set a $48.00 price objective on shares of Progyny in a research note on Wednesday, February 28th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $48.30.

Progyny Price Performance

Shares of Progyny stock opened at $32.75 on Wednesday. The firm has a market cap of $3.15 billion, a P/E ratio of 52.82, a P/E/G ratio of 1.38 and a beta of 1.48. The firm has a 50 day simple moving average of $37.01 and a 200 day simple moving average of $35.69. Progyny has a fifty-two week low of $29.44 and a fifty-two week high of $44.95.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm had revenue of $269.94 million during the quarter, compared to analyst estimates of $274.08 million. During the same quarter in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts expect that Progyny will post 0.7 EPS for the current year.

Insider Buying and Selling at Progyny

In other Progyny news, Chairman David J. Schlanger sold 71,272 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman David J. Schlanger sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.52, for a total transaction of $37,520.00. Following the completion of the sale, the chairman now owns 83,631 shares of the company’s stock, valued at approximately $3,137,835.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David J. Schlanger sold 71,272 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the sale, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Insiders sold 120,515 shares of company stock valued at $4,570,131 in the last quarter. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RiverPark Advisors LLC grew its holdings in Progyny by 54.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock worth $40,000 after purchasing an additional 374 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Progyny by 3,119.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,674 shares of the company’s stock valued at $50,000 after acquiring an additional 1,622 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Progyny in the first quarter valued at about $52,000. Acadian Asset Management LLC purchased a new position in Progyny in the third quarter valued at about $53,000. Finally, Lazard Asset Management LLC raised its position in shares of Progyny by 45.2% in the fourth quarter. Lazard Asset Management LLC now owns 1,763 shares of the company’s stock valued at $54,000 after purchasing an additional 549 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.