Progyny (NASDAQ:PGNY) Given New $17.00 Price Target at Canaccord Genuity Group

Progyny (NASDAQ:PGNY) had its price target trimmed by Canaccord Genuity Group from $18.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research firms have also issued reports on PGNY. Leerink Partners lowered their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 19th. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and lowered their target price for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Truist Financial reiterated a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.50.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $13.90 on Wednesday. The firm has a market capitalization of $1.25 billion, a PE ratio of 23.97, a P/E/G ratio of 1.62 and a beta of 1.44. The business has a 50-day moving average of $17.69 and a two-hundred day moving average of $23.56. Progyny has a 12 month low of $13.77 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 10.87%. The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same quarter last year, the business posted $0.16 EPS. Progyny’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Progyny will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after acquiring an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Progyny by 1,576.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after purchasing an additional 2,412,068 shares during the last quarter. Farallon Capital Management LLC raised its holdings in Progyny by 120.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after acquiring an additional 715,900 shares in the last quarter. Redmile Group LLC bought a new stake in shares of Progyny in the 1st quarter valued at approximately $12,241,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Progyny by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock valued at $36,676,000 after purchasing an additional 254,725 shares during the period. 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.