Truist Financial Reaffirms “Buy” Rating for Progyny (NASDAQ:PGNY)

Progyny (NASDAQ:PGNY)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $46.00 price target on the stock. Truist Financial’s price objective would indicate a potential upside of 39.56% from the company’s current price.

Other equities analysts have also issued research reports about the company. KeyCorp dropped their target price on Progyny from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Barclays assumed coverage on Progyny in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $48.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Progyny in a report on Wednesday, February 28th. Finally, SVB Leerink started coverage on Progyny in a report on Monday, February 26th. They set an “outperform” rating and a $49.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Progyny currently has an average rating of “Buy” and a consensus target price of $48.30.

Progyny Stock Performance

Shares of Progyny stock traded down $0.43 during trading hours on Wednesday, reaching $32.96. 442,754 shares of the company were exchanged, compared to its average volume of 775,940. Progyny has a 1 year low of $29.44 and a 1 year high of $44.95. The stock’s fifty day moving average is $37.15 and its 200 day moving average is $35.71. The firm has a market cap of $3.17 billion, a PE ratio of 53.18, a PEG ratio of 1.39 and a beta of 1.48.

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

Insider Transactions at Progyny

In other news, Chairman David J. Schlanger sold 20,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the completion of the sale, the chairman now owns 86,312 shares in the company, valued at $3,323,012. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the sale, the chairman now owns 83,631 shares in the company, valued at $3,137,835.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman David J. Schlanger sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the completion of the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,323,012. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,515 shares of company stock worth $4,570,131. Company insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Progyny by 3.8% during the 1st quarter. BlackRock Inc. now owns 9,700,353 shares of the company’s stock worth $311,575,000 after acquiring an additional 353,499 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Progyny by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,270,153 shares of the company’s stock valued at $307,484,000 after purchasing an additional 112,549 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Progyny by 352,414.2% in the 4th quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock valued at $218,485,000 after purchasing an additional 5,874,744 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Progyny by 2.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,223,502 shares of the company’s stock valued at $165,688,000 after purchasing an additional 86,249 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Progyny by 11.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 2,885,980 shares of the company’s stock valued at $92,698,000 after purchasing an additional 293,192 shares in the last quarter. 94.93% of the stock is 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.