Progyny Inc (NASDAQ: PGNY) stock jumped 2.76% on Monday to $33.09 against a previous-day closing price of $32.20. With 0.91 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.74 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $33.20 whereas the lowest price it dropped to was $32.24. The 52-week range on PGNY shows that it touched its highest point at $44.95 and its lowest point at $28.03 during that stretch. It currently has a 1-year price target of $47.25. Beta for the stock currently stands at 1.49.
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 8.60%, but this was up by 4.48% over a month. Three-month performance dropped to -10.18% while six-month performance fell -14.52%. The stock lost -0.99% in the past year, while it has gained 6.23% so far this year. A look at the trailing 12-month EPS for PGNY yields 0.52 with Next year EPS estimates of 0.71. For the next quarter, that number is 0.10. This implies an EPS growth rate of 93.33% for this year and 21.98% for next year.
Float and Shares Shorts:
At present, 92.69 million PGNY shares are outstanding with a float of 82.59 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.24 million, which was 5.47% higher than short shares on Sep 28, 2023. In addition to Mr. David J. Schlanger as the firm’s Executive Chairman, Mr. Peter Anevski serves as its CEO & Director.
Through their ownership of 100.93% of PGNY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.80% of PGNY, in contrast to 38.89% held by mutual funds. Shares owned by individuals account for 21.21%. As the largest shareholder in PGNY with 9.62% of the stake, BlackRock Fund Advisors holds 9,178,342 shares worth 9,178,342. A second-largest stockholder of PGNY, The Vanguard Group, Inc., holds 7,926,344 shares, controlling over 8.31% of the firm’s shares. ClearBridge Investments LLC is the third largest shareholder in PGNY, holding 3,940,521 shares or 4.13% stake. With a 2.70% stake in PGNY, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,575,058 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.69% of PGNY stock, is the second-largest Mutual Fund holder. It holds 2,563,302 shares valued at 79.1 million. Vanguard Small Cap Index Fund holds 2.19% of the stake in PGNY, owning 2,093,066 shares worth 64.59 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGNY since 0 analysts follow the stock currently. 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 $49.00 and a low target of $43.00, the average target price over the next 12 months is $46.25. Based on these targets, PGNY could surge 48.08% to reach the target high and rise by 29.95% to reach the target low. Reaching the average price target will result in a growth of 39.77% from current levels.
Summary of Insider Activity:
Insiders traded PGNY stock several times over the past three months with 0 Buys and 9 Sells. In these transactions, 0 shares were bought while 22,027 shares were sold. The number of buy transactions has increased to 63 while that of sell transactions has risen to 174 over the past year. The total number of shares bought during that period was 1,749,547 while 4,850,517 shares were sold.