Progyny (NASDAQ:PGNY) Lowered to “Sector Weight” at KeyCorp

Progyny (NASDAQ:PGNY) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report issued on Friday, MarketBeat Ratings reports.

A number of other research analysts also recently weighed in on PGNY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 price target on shares of Progyny in a research note on Wednesday, February 28th. SVB Leerink assumed coverage on Progyny in a report on Monday, February 26th. They issued an “outperform” rating and a $49.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Finally, Truist Financial reiterated a “buy” rating and set a $46.00 price objective on shares of Progyny in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.11.

Progyny Trading Up 1.1 %

PGNY stock opened at $32.50 on Friday. The firm has a market cap of $3.12 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51. The stock has a 50-day moving average price of $34.67 and a 200-day moving average price of $35.59. Progyny has a 1-year low of $29.44 and a 1-year high of $44.95.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) 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 firm had revenue of $269.94 million for the quarter, compared to analysts’ expectations of $274.08 million. During the same period in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts forecast that Progyny will post 0.7 earnings per share for the current year.

Insider Activity at Progyny

In other Progyny news, President Michael E. Sturmer sold 4,515 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the completion of the sale, the president now directly owns 380,038 shares of the company’s stock, valued at approximately $12,142,214.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Michael E. Sturmer sold 4,515 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total value of $144,254.25. Following the completion of the transaction, the president now directly owns 380,038 shares of the company’s stock, valued at $12,142,214.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman David J. Schlanger sold 71,272 shares of Progyny stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the sale, the chairman now owns 86,312 shares in the company, valued at $3,262,593.60. The disclosure for this sale can be found here. Insiders have sold 102,770 shares of company stock valued at $3,853,985 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

A number of large investors have recently added to or reduced their stakes in PGNY. M&G Plc purchased a new position in Progyny in the first quarter valued at about $1,156,000. SageView Advisory Group LLC bought a new stake in shares of Progyny in the 1st quarter worth approximately $185,000. ProShare Advisors LLC lifted its stake in Progyny by 4.6% in the first quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock valued at $700,000 after purchasing an additional 804 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Progyny by 15.0% in the first quarter. Russell Investments Group Ltd. now owns 135,904 shares of the company’s stock valued at $5,185,000 after purchasing an additional 17,701 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Progyny by 0.6% during the first quarter. Swiss National Bank now owns 170,200 shares of the company’s stock valued at $6,493,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors 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.