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

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

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

Progyny Stock Up 2.6 %

Shares of NASDAQ:PGNY opened at $32.70 on Wednesday. The firm’s 50 day moving average price is $36.68 and its 200 day moving average price is $35.65. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 52.74, a price-to-earnings-growth ratio of 1.31 and a beta of 1.48. 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 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 net margin of 5.70% and a return on equity of 12.64%. The company had revenue of $269.94 million for the quarter, compared to analysts’ expectations of $274.08 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities analysts anticipate that Progyny will post 0.7 EPS for the current year.

Insider Activity at Progyny

In related news, President Michael E. Sturmer sold 2,260 shares of Progyny stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the transaction, the president now directly owns 158,532 shares in the company, valued at approximately $6,341,280. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Progyny news, President Michael E. Sturmer sold 6,395 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the completion of the sale, the president now owns 384,553 shares of the company’s stock, valued at $14,459,192.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Michael E. Sturmer sold 2,260 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $40.00, for a total value of $90,400.00. Following the completion of the sale, the president now directly owns 158,532 shares of the company’s stock, valued at approximately $6,341,280. The disclosure for this sale can be found here. Insiders have sold a total of 120,515 shares of company stock worth $4,570,131 in the last three months. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

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

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.