Canaccord Genuity Group Cuts Progyny (NASDAQ:PGNY) Price Target to $17.00

Progyny (NASDAQ:PGNY) had its price target decreased by Canaccord Genuity Group from $18.00 to $17.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Truist Financial restated a “hold” rating and set a $19.00 price target (down from $26.00) on shares of Progyny in a research note on Wednesday. Finally, Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Progyny currently has an average rating of “Hold” and an average price target of $25.42.

Progyny Trading Down 1.5 %

Shares of PGNY stock opened at $13.77 on Wednesday. Progyny has a 12-month low of $13.39 and a 12-month high of $42.08. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The stock has a 50 day simple moving average of $17.30 and a 200-day simple moving average of $23.30.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. 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 earned $0.16 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Progyny will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its stake in Progyny by 703.9% in the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after buying an additional 40,694 shares during the period. Bank of New York Mellon Corp grew its position in shares of Progyny by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after purchasing an additional 22,012 shares during the last quarter. Kestrel Investment Management Corp acquired a new position in shares of Progyny during the 2nd quarter worth approximately $5,005,000. Farallon Capital Management LLC increased its position in shares of Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its stake in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after purchasing an additional 132,672 shares during the last quarter. Institutional investors and hedge funds 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.