Cantor Fitzgerald Trims Progyny (NASDAQ:PGNY) Target Price to $37.00

Progyny (NASDAQ:PGNY) had its target price cut by Cantor Fitzgerald from $48.00 to $37.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the stock. KeyCorp lowered shares of Progyny from an overweight rating to a sector weight rating in a research report on Friday, May 10th. BTIG Research downgraded shares of Progyny from a buy rating to a neutral rating in a research report on Wednesday. SVB Leerink cut Progyny from an outperform rating to a market perform rating and decreased their target price for the stock from $31.00 to $25.00 in a report on Wednesday. JMP Securities began coverage on Progyny in a report on Tuesday, July 16th. They set an outperform rating and a $36.00 price target for the company. Finally, Truist Financial reduced their price target on Progyny from $37.00 to $33.00 and set a buy rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Progyny has a consensus rating of Hold and a consensus target price of $34.50.

Progyny Trading Up 3.1 %

PGNY stock traded up $0.65 on Wednesday, hitting $21.61. The company had a trading volume of 2,221,506 shares, compared to its average volume of 1,028,364. Progyny has a 12-month low of $19.60 and a 12-month high of $42.08. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 1.67 and a beta of 1.46. The stock’s 50-day simple moving average is $27.31 and its 200 day simple moving average is $32.12.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $304.09 million for the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.48% and a net margin of 5.54%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. Research analysts forecast that Progyny will post 0.73 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Progyny

A number of large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in shares of Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after purchasing an additional 264 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after buying an additional 319 shares during the last quarter. M&G Investment Management Ltd. raised its position in shares of Progyny by 1.2% during the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock valued at $1,220,000 after buying an additional 387 shares in the last quarter. FourThought Financial Partners LLC lifted its holdings in shares of Progyny by 1.3% in the 4th quarter. FourThought Financial Partners LLC now owns 32,683 shares of the company’s stock valued at $1,215,000 after acquiring an additional 423 shares during the last quarter. Finally, RiverPark Advisors LLC grew its position in Progyny by 9.6% in the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after acquiring an additional 474 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

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.