Key Points
- Progyny CEO Peter Anevski sold 236,630 shares for about $8.48 million at an average price of $35.84 under a pre-arranged Rule 10b5-1 plan. He retained 710,972 shares after the sale.
- Progyny reported quarterly EPS of $0.52, beating the $0.31 consensus estimate; revenue of $341.25 million was slightly above expectations and rose 8.9% year over year.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $35.33; 11 analysts rated the stock Buy and four rated it Hold.
Progyny, Inc. (NASDAQ:PGNY - Get Free Report) CEO Peter Anevski sold 236,630 shares of Progyny stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $35.84, for a total value of $8,480,819.20. Following the completion of the sale, the chief executive officer owned 710,972 shares of the company's stock, valued at approximately $25,481,236.48. The trade was a 24.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Peter Anevski also recently made the following trade(s):
- On Thursday, November 5th, Peter Anevski sold 11,939 shares of Progyny stock. The shares were sold at an average price of $35.13, for a total value of $419,417.07.
- On Monday, November 9th, Peter Anevski sold 161,308 shares of Progyny stock. The stock was sold at an average price of $35.73, for a total value of $5,763,534.84.
Progyny Stock Performance
Progyny stock opened at $36.58 on Friday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 1.91 and a beta of 0.97. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $37.16. The stock's 50 day moving average price is $28.29 and its two-hundred day moving average price is $24.82.
Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.21. The company had revenue of $341.25 million during the quarter, compared to analyst estimates of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.82%. Progyny's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS. On average, equities research analysts forecast that Progyny, Inc. will post 1.25 EPS for the current year.
Institutional Investors Weigh In On Progyny
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Progyny during the second quarter valued at approximately $334,426,000. Bank of America Corp DE raised its position in shares of Progyny by 75.3% during the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company's stock worth $20,223,000 after purchasing an additional 511,609 shares during the period. William Blair Investment Management LLC bought a new position in shares of Progyny in the 2nd quarter worth $16,807,000. Danske Bank A S bought a new position in shares of Progyny in the 2nd quarter worth $15,243,000. Finally, Jupiter Topco LLC bought a new position in shares of Progyny in the 2nd quarter worth $12,986,000. Institutional investors and hedge funds own 94.93% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on PGNY shares. Canaccord Genuity Group set a $35.00 price target on shares of Progyny in a report on Friday, August 7th. Citigroup reaffirmed a "market outperform" rating on shares of Progyny in a research note on Thursday, November 5th. Leerink Partners upped their price objective on shares of Progyny from $37.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, November 5th. Zacks Research cut shares of Progyny from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 19th. Finally, Weiss Ratings raised shares of Progyny from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Progyny currently has an average rating of "Moderate Buy" and an average price target of $35.33.
View Our Latest Stock Analysis on Progyny
Progyny Company Profile
(
Get Free Report)
Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company's offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.
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