Progyny Inc. (NASDAQ: PGNY) stock jumped 38.23% on Friday to $41.15 against a previous-day closing price of $29.77. With 3.46 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.81 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $42.74 whereas the lowest price it dropped to was $35.01. The 52-week range on PGNY shows that it touched its highest point at $68.32 and its lowest point at $25.67 during that stretch. It currently has a 1-year price target of $59.40.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PGNY was up-trending over the past week, with a rise of 34.79%, but this was up by 30.10% over a month. Three-month performance surged to 11.76% while six-month performance rose 10.86%. The stock lost -25.67% in the past year, while it has lost -18.27% so far this year. A look at the trailing 12-month EPS for PGNY yields 0.56 with Next year EPS estimates of 0.53. For the next quarter, that number is 0.04. This implies an EPS growth rate of 39.70% for this year and 210.59% for next year.
Float and Shares Shorts:
At present, 91.41 million PGNY shares are outstanding with a float of 77.85 million shares on hand for trading. On Jul 14, 2022, short shares totaled 6.35 million, which was 6.90% higher than short shares on Jun 14, 2022. In addition to Mr. David J. Schlanger as the firm’s Exec. Chairman, Mr. Peter Anevski serves as its CEO & Director.
Institutional Ownership:
Through their ownership of 96.94% of PGNY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.71% of PGNY, in contrast to 30.84% held by mutual funds. Shares owned by individuals account for 28.73%. As the largest shareholder in PGNY with 7.94% of the stake, Macquarie Investment Management B holds 7,298,319 shares worth 7,298,319. A second-largest stockholder of PGNY, BlackRock Fund Advisors, holds 6,905,606 shares, controlling over 7.51% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PGNY, holding 6,355,981 shares or 6.91% stake. With a 4.33% stake in PGNY, the Delaware Smid Cap Growth Fund is the largest stakeholder. A total of 3,977,870 shares are owned by the mutual fund manager. The ClearBridge Small Cap Growth Fund, which owns about 2.31% of PGNY stock, is the second-largest Mutual Fund holder. It holds 2,125,209 shares valued at 61.74 million. iShares Core S&P Mid Cap ETF holds 2.23% of the stake in PGNY, owning 2,046,603 shares worth 59.45 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGNY since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PGNY analysts setting a high price target of $80.00 and a low target of $50.00, the average target price over the next 12 months is $61.83. Based on these targets, PGNY could surge 94.41% to reach the target high and rise by 21.51% to reach the target low. Reaching the average price target will result in a growth of 50.26% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PGNY will report FY 2022 earnings on 02/27/2023. Analysts have provided yearly estimates in a range of $0.19 being high and $0.09 being low. For PGNY, this leads to a yearly average estimate of $0.14. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Progyny Inc. surprised analysts by $0.08 when it reported $0.09 EPS against a consensus estimate of $0.01. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is $0.04. The average estimate for the next quarter is thus $0.02.
Summary of Insider Activity:
Insiders traded PGNY stock several times over the past three months with 6 Buys and 30 Sells. In these transactions, 187,772 shares were bought while 238,111 shares were sold. The number of buy transactions has increased to 64 while that of sell transactions has risen to 337 over the past year. The total number of shares bought during that period was 3,316,187 while 4,546,050 shares were sold.
