Progyny (NASDAQ:PGNY) Chairman David Schlanger Sells 3,400 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 3,400 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $35.22, for a total transaction of $119,748.00. Following the completion of the sale, the chairman owned 238,462 shares in the company, valued at approximately $8,398,631.64. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Stock Performance

Shares of PGNY stock traded up $1.11 during trading hours on Monday, hitting $35.95. 1,645,331 shares of the company were exchanged, compared to its average volume of 914,017. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.08 and a beta of 0.97. Progyny, Inc. has a one year low of $16.10 and a one year high of $36.00. The business’s 50-day simple moving average is $27.65 and its two-hundred day simple moving average is $24.64.

Progyny (NASDAQ:PGNY) last announced 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. Progyny had a return on equity of 19.23% and a net margin of 6.80%. The firm had revenue of $341.25 million during the quarter, compared to analyst estimates of $340.76 million. During the same period in the previous year, the company earned $0.15 earnings per share. Progyny’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Progyny, Inc. will post 1.25 EPS for the current fiscal year.

Institutional Trading of Progyny

Several hedge funds have recently made changes to their positions in PGNY. Intech Investment Management LLC increased its position in Progyny by 33.3% in the third quarter. Intech Investment Management LLC now owns 59,521 shares of the company’s stock worth $1,499,000 after buying an additional 14,864 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Progyny by 14.4% during the third quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock valued at $104,000 after acquiring an additional 520 shares during the period. William Blair Investment Management LLC grew its position in shares of Progyny by 10.7% during the third quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock worth $16,251,000 after acquiring an additional 62,178 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Progyny by 465.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 128,417 shares of the company’s stock worth $3,213,000 after acquiring an additional 105,707 shares during the period. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Progyny by 62.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 17,044 shares of the company’s stock worth $429,000 after acquiring an additional 6,526 shares during the period. Institutional investors own 94.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Leerink Partners boosted their price target on Progyny from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday. Citizens Jmp raised their price objective on Progyny from $33.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday. Barclays reduced their price objective on Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Citigroup reaffirmed a “market outperform” rating on shares of Progyny in a report on Thursday. Finally, Wall Street Zen upgraded shares of Progyny from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Progyny Company Profile

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.

Founded in 2008, Progyny serves employer clients and their workforces in the United States.