JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Progyny (NASDAQ:PGNY) Stock

Progyny (NASDAQ:PGNY) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $17.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 2.67% from the company’s current price.

PGNY has been the topic of several other reports. Barclays cut their price target on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Truist Financial restated a “hold” rating and set a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Bank of America lowered their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group reduced their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Progyny presently has a consensus rating of “Hold” and an average target price of $25.50.

Progyny Stock Up 3.0 %

PGNY traded up $0.68 on Tuesday, hitting $23.63. The company had a trading volume of 135,675 shares, compared to its average volume of 1,984,713. The business’s fifty day simple moving average is $16.91 and its 200 day simple moving average is $19.25. Progyny has a 12-month low of $13.39 and a 12-month high of $42.08. The company has a market cap of $2.01 billion, a PE ratio of 40.74, a PEG ratio of 2.11 and a beta of 1.31.

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

Insider Buying and Selling at Progyny

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

Institutional Investors Weigh In On Progyny

A number of hedge funds and other institutional investors have recently modified their holdings of PGNY. Caitlin John LLC raised its holdings in Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after buying an additional 3,183 shares during the period. Vanderbilt University purchased a new stake in Progyny during the 4th quarter worth approximately $254,000. Guidance Capital Inc. bought a new stake in shares of Progyny in the 4th quarter worth about $380,000. Pacer Advisors Inc. increased its holdings in Progyny by 47.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock valued at $63,414,000 after buying an additional 1,183,558 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Progyny by 84.6% during the 4th quarter. KBC Group NV now owns 4,669 shares of the company’s stock valued at $81,000 after acquiring an additional 2,140 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.