Key Points
- Progyny insider Geoffrey Clapp sold 774 shares for $28,181 under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 1.31%; he retained 58,235 shares.
- The company reported quarterly EPS of $0.52, beating the $0.31 consensus estimate, while revenue of $341.25 million slightly topped forecasts and grew 8.9% year over year.
- Analysts’ consensus rating was “Moderate Buy”, with a $35.33 average price target; 11 analysts rated the stock Buy and four rated it Hold.
Progyny, Inc. (NASDAQ:PGNY - Get Free Report) insider Geoffrey Clapp sold 774 shares of the business's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $36.41, for a total value of $28,181.34. Following the completion of the transaction, the insider directly owned 58,235 shares of the company's stock, valued at approximately $2,120,336.35. This trade represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Progyny Stock Down 1.1%
Shares of PGNY traded down $0.40 during mid-day trading on Friday, reaching $36.18. The company had a trading volume of 869,008 shares, compared to its average volume of 1,062,968. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $37.15. The stock has a market capitalization of $2.66 billion, a P/E ratio of 33.19, a PEG ratio of 1.70 and a beta of 0.97. The stock has a 50 day moving average of $28.48 and a two-hundred day moving average of $24.87.
Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.31 by $0.21. The firm had revenue of $341.25 million for the quarter, compared to analyst estimates of $340.76 million. Progyny had a return on equity of 19.82% and a net margin of 6.80%. Progyny's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. On average, sell-side analysts expect that Progyny, Inc. will post 1.41 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. BTIG Research raised their price objective on shares of Progyny from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Citigroup reaffirmed a "market outperform" rating on shares of Progyny in a report on Thursday, November 5th. Truist Financial boosted their target price on shares of Progyny from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Zacks Research cut shares of Progyny from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Progyny from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Monday, November 9th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.33.
View Our Latest Stock Report on PGNY
Institutional Investors Weigh In On Progyny
A number of institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. increased its stake in shares of Progyny by 6.8% in the 3rd quarter. AWM Investment Company Inc. now owns 235,000 shares of the company's stock valued at $5,920,000 after purchasing an additional 15,000 shares in the last quarter. Kovack Advisors Inc. acquired a new position in Progyny in the 3rd quarter worth about $72,000. First Trust Advisors LP raised its holdings in Progyny by 302.2% in the 3rd quarter. First Trust Advisors LP now owns 425,903 shares of the company's stock worth $10,728,000 after purchasing an additional 320,010 shares during the period. Public Sector Pension Investment Board boosted its position in Progyny by 3.5% during the third quarter. Public Sector Pension Investment Board now owns 322,105 shares of the company's stock worth $8,785,000 after purchasing an additional 10,918 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Progyny during the third quarter worth approximately $1,306,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.
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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