Progyny (NASDAQ:PGNY) Stock Price Up 3.3% – Here’s What Happened

Progyny, Inc. (NASDAQ:PGNY) shares were up 3.3% during trading on Monday . The company traded as high as $22.66 and last traded at $22.62. Approximately 145,917 shares were traded during trading, a decline of 91% from the average daily volume of 1,690,619 shares. The stock had previously closed at $21.90.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PGNY. JPMorgan Chase & Co. raised their target price on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group upped their target price on shares of Progyny from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Bank of America boosted their price objective on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, BTIG Research raised Progyny from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.64.

Progyny Price Performance

The firm has a fifty day moving average price of $22.12 and a 200 day moving average price of $18.49. The firm has a market capitalization of $1.97 billion, a PE ratio of 39.81, a P/E/G ratio of 2.39 and a beta of 1.41.

Hedge Funds Weigh In On Progyny

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. Vanguard Group Inc. lifted its stake in Progyny by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 8,692,132 shares of the company’s stock worth $149,939,000 after acquiring an additional 48,271 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Progyny by 47.5% in the 4th 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 in the last quarter. State Street Corp increased its holdings in Progyny by 4.5% in the third quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after buying an additional 134,861 shares during the last quarter. Invenomic Capital Management LP bought a new position in Progyny during the third quarter valued at approximately $29,509,000. Finally, River Road Asset Management LLC acquired a new stake in Progyny in the fourth quarter valued at approximately $25,529,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Company Profile

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.