The time has not yet come to remove your chips from the table: Progyny Inc. (PGNY)

Progyny Inc. (NASDAQ: PGNY) stock fell -2.24% on Tuesday to $32.78 against a previous-day closing price of $33.53. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.86 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $33.87 whereas the lowest price it dropped to was $32.55. The 52-week range on PGNY shows that it touched its highest point at $53.10 and its lowest point at $25.67 during that stretch. It currently has a 1-year price target of $48.57.

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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 down-trending over the past week, with a drop of -2.85%, but this was up by 4.06% over a month. Three-month performance dropped to -15.03% while six-month performance rose 4.10%. The stock lost -11.12% in the past year, while it has gained 5.23% so far this year. A look at the trailing 12-month EPS for PGNY yields 0.42 with Next year EPS estimates of 0.38. For the next quarter, that number is 0.01. This implies an EPS growth rate of 39.70% for this year and 32.99% for next year. EPS is expected to grow by 11.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 95.09%.

Float and Shares Shorts:

At present, 92.32 million PGNY shares are outstanding with a float of 81.62 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.58 million, which was 6.06% higher than short shares on Sep 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 96.71% of PGNY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.17% of PGNY, in contrast to 26.88% held by mutual funds. Shares owned by individuals account for 25.91%. As the largest shareholder in PGNY with 8.23% of the stake, BlackRock Fund Advisors holds 7,645,678 shares worth 7,645,678. A second-largest stockholder of PGNY, The Vanguard Group, Inc., holds 6,655,448 shares, controlling over 7.17% of the firm’s shares. Macquarie Investment Management B is the third largest shareholder in PGNY, holding 6,614,380 shares or 7.12% stake. With a 3.47% stake in PGNY, the Delaware Smid Cap Growth Fund is the largest stakeholder. A total of 3,221,344 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.50% of PGNY stock, is the second-largest Mutual Fund holder. It holds 2,321,150 shares valued at 72.3 million. Vanguard Total Stock Market Index holds 2.45% of the stake in PGNY, owning 2,272,416 shares worth 70.79 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGNY since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 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 $62.00 and a low target of $34.00, the average target price over the next 12 months is $48.57. Based on these targets, PGNY could surge 89.14% to reach the target high and rise by 3.72% to reach the target low. Reaching the average price target will result in a growth of 48.17% 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 02/27/2024. Analysts have provided yearly estimates in a range of $0.30 being high and $0.27 being low. For PGNY, this leads to a yearly average estimate of $0.29. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Progyny Inc. surprised analysts by $0.10 when it reported $0.13 EPS against a consensus estimate of $0.03. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is $0.03 and the low estimate is $0.01. 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 14 Buys and 81 Sells. In these transactions, 326,899 shares were bought while 1,174,669 shares were sold. The number of buy transactions has increased to 72 while that of sell transactions has risen to 329 over the past year. The total number of shares bought during that period was 2,007,284 while 3,460,133 shares were sold.

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