Progyny (NASDAQ:PGNY) Price Target Cut to $18.00

Progyny (NASDAQ:PGNY) had its price target reduced by Canaccord Genuity Group from $24.00 to $18.00 in a research report released on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Progyny from $31.00 to $22.00 and set an overweight rating on the stock in a report on Thursday, September 19th. Canaccord Genuity Group downgraded shares of Progyny from a buy rating to a hold rating and dropped their target price for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Jefferies Financial Group cut their price objective on Progyny from $31.00 to $24.00 and set a buy rating on the stock in a report on Thursday, September 19th. Truist Financial decreased their target price on shares of Progyny from $33.00 to $26.00 and set a buy rating for the company in a research note on Thursday, September 19th. Finally, Leerink Partners dropped their target price on shares of Progyny from $25.00 to $21.00 and set a market perform rating on the stock in a research report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $27.73.

Progyny Trading Up 3.4 %

Progyny stock opened at $17.19 on Friday. The firm has a market capitalization of $1.64 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. Progyny has a 12-month low of $13.93 and a 12-month high of $42.08. The firm has a 50-day moving average price of $23.85 and a 200-day moving average price of $28.45.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $304.09 million for the quarter, compared to the consensus estimate of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. As a group, sell-side analysts predict that Progyny will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the sale, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Institutional Trading of Progyny

Hedge funds have recently modified their holdings of the stock. Quarry LP grew its holdings in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after acquiring an additional 836 shares in the last quarter. TFC Financial Management Inc. acquired a new stake in Progyny in the first quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progyny during the 2nd quarter worth about $44,000. Financial Management Professionals Inc. acquired a new position in shares of Progyny during the 1st quarter worth about $52,000. Finally, Cambridge Trust Co. purchased a new position in shares of Progyny in the 1st quarter valued at about $95,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.