Progyny (NASDAQ:PGNY) Given New $23.00 Price Target at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY) had its target price lifted by JPMorgan Chase & Co. from $17.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the company. Canaccord Genuity Group reduced their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Bank of America decreased their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Barclays dropped their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Finally, Truist Financial restated a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.50.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $23.59 on Tuesday. The company’s fifty day moving average is $17.10 and its 200-day moving average is $19.21. Progyny has a 52 week low of $13.39 and a 52 week high of $42.08. The company has a market capitalization of $2.01 billion, a PE ratio of 40.67, a P/E/G ratio of 2.11 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The firm had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. On average, analysts forecast that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Anevski purchased 209,500 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the purchase, the chief executive officer now owns 441,463 shares in the company, valued at $6,392,384.24. The trade was a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Progyny

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after acquiring an additional 2,412,068 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Progyny during the third quarter worth about $29,509,000. Fort Washington Investment Advisors Inc. OH raised its position in shares of Progyny by 90.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock worth $25,319,000 after purchasing an additional 695,740 shares during the period. Finally, Barclays PLC grew its position in shares of Progyny by 530.4% in the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after purchasing an additional 594,140 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

About Progyny

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.