In a research note published on Thursday, Stock analysts at SVB Leerink reaffirmed their “market perform” recommendation on Progyny’s (NASDAQ: PGNY) shares. Benzinga reported this. Their most recent price objective for the stock was $59, while their current price objective is $34, which is a lower price than their previous price objective. According to the price objective that SVB Leerink established, there is the potential for an increase of 9.22% in the stock’s price compared to its most recent closing price.
PGNY has captured the interest of a great many distinct research companies recently. Truist Financial published a piece of research titled “Progyny” on September 7, and it looked at various aspects of the phenomenon. They suggested investing in the company by purchasing shares and determined that the price target should be $56.00 per share. KeyCorp decreased their target price on Progyny shares from $55.00 to $45.00 and gave the company an “overweight” rating in a research note published on Monday, December 19. Overweight is the rating given to Progyny stock by JPMorgan Chase & Co. in a research report published on Friday, November 18. JPMorgan Chase & Co. lowered their price target on Progyny from $78.00 to $62.00. The Street improved their previous evaluation of progeny, which had been given a grade of “d+,” to a grade of “c” in a research report released on Monday, October 24. Two groups of financial analysts have suggested that investors purchase the company; however, one of those analysts has also suggested that investors simply keep their existing positions. Bloomberg.com reports that the average rating for the company as of now is “Moderate Buy” and that the price at which it is anticipated to reach consensus is $49.25.
Thursday was the first day NASDAQ: PGNY was available for trading, and the opening price was $31.13. The price of Progyny dropped as low as $25.67 over the previous year, reaching an all-time high of $53.10. A price-to-earnings ratio of 74.12, a price-to-earnings-to-growth ratio of 3.91, and a beta of 1.59 are some of the financial metrics that the company possesses. The company’s total value, as represented by its market capitalization, is $2.89 billion. The share price of the company’s stock has averaged $34.75 over the previous fifty days and $36.08 over the previous 200 days.
Progyny (NASDAQ: PGNY) released the results of its most recent quarterly earnings report on Thursday, November 3, 2018. The company’s earnings per share for the quarter came in at $0.13, which was $0.08 higher than the predictions made by market analysts, which were $0.05 per share. In addition, the sales for the company for the quarter came in significantly higher than the predictions made by the analysts, which were $194.41 million; instead, they came in at $205.37 million. The return on equity for Progyny came in at 14.14 percent, and the net margin for the company was 6.00 percent. Progyny is expected to have earnings of 0.28 cents per share in 2017, according to projections made by analysts following the stock market.
In other news about this topic, on Wednesday, October 12, Director Norman Payson completed a transaction in which he sold 6,617 shares of the company’s stock. This was an occurrence within the framework of things that had taken place in the past. The total cost of the transaction was $253,960.46, which works out to an average price of $38.38 per share when applied to the acquisition of the shares. As a direct consequence of the transaction, the director now holds 345,233 shares of the company, the total value of which is approximately 13,250,042.54 dollars. You might find a filing that explains the transaction in greater detail on the Securities and Exchange Commission (SEC) website. In addition, on November 29 of this year, 14,801 shares of Progyny stock were sold by Mark S. Livingston, who serves as the company’s Chief Financial Officer. It costs a total of $543,196.70 to buy the shares, which works out to an average price of $36.70 per share. The purchase of the shares determined the total amount spent. The top financial officer in the company now has direct ownership of 63,994 shares as a direct result of the transaction.
The value of these shares on the market as of right now is approximately $2,348,579.80. A legal document that was handed into the SEC and that has since been made available online has been used to inform the general public about the sale. On October 12, Norman Payson, also a company director, sold 6,617 shares, bringing his total sales for the day to 6,617. In the transaction, the shares were sold for a total price of $253,960.46, which works out to $38.38 per share on an individual basis. As a direct consequence of the transaction, the director is now the owner of 345,233 shares of the company. The total value of these shares is 13,250,042.54 dollars. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company were responsible for the sale of 140,741 shares of company stock during the most recent financial period, which resulted in total revenue of $5,441,482. There is a total of 14.000% of the company’s shares that the company’s insiders hold.
During the past few months, several significant investors have modified the positions that they have held in PGNY. During the third quarter, BlackRock Inc. increased the proportion of Progyny shares that it held by 2.8% from the previous quarter. After purchasing 236,406 shares, BlackRock Inc. now has 8,667,544 shares of the company’s stock, which are currently valued at $321,219,000. This brings the total number of shares owned by the company to 8,667,544. During the third quarter, Vanguard Group Inc. increased the amount of Progyny stock owned by 2.1%, bringing its total ownership percentage to 100%. After acquiring 140,947 additional shares during the most recent fiscal quarter, Vanguard Group Inc. now has 6,852,362 shares of the company’s stock, which has a value of $253,949,000. This brings the total number of shares owned by the company to 6,852,362. During the second quarter, Clearbridge Investments LLC bought an additional 13.3 percent of Progyny shares to add to the ownership stake it already held in the company. There are currently 3,652,887 shares of the company’s stock owned by Clearbridge Investments LLC. These shares have a total value of $106,116,000. This comes from purchasing 429,385 additional shares during the most recent fiscal quarter. Compared to the previous quarter, Thrivent Financial for Lutherans increased the amount of progeny that it held in its portfolio by 15.4% during the third quarter. Thrivent Financial for Lutherans now has a total of 2,506,859 shares valued at $92,904,000. This represents an increase in the number of shares held by 335,442 and brings the total number of shares held by the organization to its current level. During the third quarter, State Street Corporation increased the amount of Progyny shares it held by 8.3%, making this the last and most important point. After purchasing an additional 181,625 shares during the most recent quarter, State Street Corp. now owns 2,358,261 shares. The value of these shares puts the company’s worth at $87,397,000. Institutional investors and hedge funds hold 86.12% of the total number of shares in the company, making up the majority of the shareholders.
The benefits management company Progyny, Inc. focuses most of its efforts on providing family planning and fertility benefits for employers in the United States. The company’s fertility benefit solution includes a differentiated benefit plan design, a member support service modeled after a concierge’s, and a specialized network of fertility experts.

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