Progyny (NASDAQ:PGNY) Chairman Sells 161,208 Shares of Company Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 161,208 shares of Progyny stock in a transaction on Monday, November 9th. The stock was sold at an average price of $35.73, for a total transaction of $5,759,961.84. Following the completion of the transaction, the chairman owned 238,462 shares in the company, valued at approximately $8,520,247.26. The trade was a 40.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Price Performance

Progyny stock traded up $1.11 during mid-day trading on Monday, hitting $35.95. The company’s stock had a trading volume of 1,645,331 shares, compared to its average volume of 914,017. The business has a 50 day moving average price of $27.65 and a 200-day moving average price of $24.64. Progyny, Inc. has a 12 month low of $16.10 and a 12 month high of $36.00. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $340.76 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently modified their holdings of PGNY. Toth Financial Advisory Corp raised its stake in Progyny by 21.3% in the third quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company’s stock worth $69,000 after buying an additional 480 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Progyny by 14.4% during the 3rd 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 in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Progyny by 4.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the company’s stock valued at $435,000 after acquiring an additional 700 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Progyny during the 2nd quarter worth approximately $29,000. Finally, State of Wyoming grew its holdings in shares of Progyny by 3.5% during the 3rd quarter. State of Wyoming now owns 29,806 shares of the company’s stock worth $751,000 after acquiring an additional 1,015 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PGNY shares. Zacks Research cut Progyny from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. KeyCorp upped their price target on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Wall Street Zen raised Progyny from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Wells Fargo & Company increased their price objective on Progyny from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial lifted their price objective on Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Progyny has a consensus rating of “Moderate Buy” and a consensus 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.