Progyny (NASDAQ:PGNY) Chairman David Schlanger Sells 35,392 Shares of Company Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 35,392 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $35.36, for a total transaction of $1,251,461.12. Following the sale, the chairman owned 238,462 shares of the company’s stock, valued at approximately $8,432,016.32. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Stock Performance

Shares of PGNY stock opened at $36.58 on Friday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 1.91 and a beta of 0.97. The company has a 50-day simple moving average of $28.29 and a 200 day simple moving average of $24.82. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $37.16.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. The business had revenue of $341.25 million for the quarter, compared to analyst estimates of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.82%. Progyny’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. Sell-side analysts forecast that Progyny, Inc. will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP increased 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 valued at $10,728,000 after buying an additional 320,010 shares during the period. Public Sector Pension Investment Board raised its position in shares of Progyny by 3.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 322,105 shares of the company’s stock valued at $8,785,000 after buying an additional 10,918 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Progyny during the 3rd quarter worth approximately $1,306,000. Intech Investment Management LLC lifted its holdings in shares of Progyny by 33.3% during the 3rd quarter. Intech Investment Management LLC now owns 59,521 shares of the company’s stock worth $1,499,000 after acquiring an additional 14,864 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Progyny by 14.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock worth $104,000 after acquiring an additional 520 shares during the period. 94.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PGNY. Canaccord Genuity Group set a $35.00 target price on Progyny in a research note on Friday, August 7th. Wall Street Zen raised Progyny from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 8th. Truist Financial boosted their price target on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group set a $33.00 price objective on Progyny in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. upped their price objective on Progyny from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Monday. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.