Progyny (NASDAQ:PGNY) PT Lowered to $22.00

Progyny (NASDAQ:PGNY) had its price target cut by JPMorgan Chase & Co. from $31.00 to $22.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Progyny from $37.00 to $25.00 and set an overweight rating on the stock in a research report on Thursday. Truist Financial dropped their price objective on shares of Progyny from $37.00 to $33.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Canaccord Genuity Group reaffirmed a hold rating and set a $24.00 price objective (down previously from $37.00) on shares of Progyny in a report on Wednesday, August 7th. JMP Securities cut Progyny from an outperform rating to a market perform rating in a research note on Thursday. Finally, Canaccord Genuity Group lowered Progyny from a buy rating to a hold rating and cut their price target for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $27.73.

Progyny Stock Up 1.0 %

Shares of Progyny stock opened at $16.62 on Thursday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.25, 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 company has a 50-day simple moving average of $24.08 and a 200 day simple moving average of $28.61.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. On average, equities analysts anticipate that Progyny will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Progyny

Several hedge funds have recently bought and sold shares of PGNY. Farallon Capital Management LLC boosted its holdings 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 valued at $37,436,000 after buying an additional 715,900 shares during the period. Wellington Management Group LLP bought a new stake in Progyny in the 4th quarter valued at $14,608,000. Norges Bank acquired a new position in Progyny in the 4th quarter worth $14,198,000. Eagle Asset Management Inc. boosted its stake in Progyny by 102.7% in the 4th quarter. Eagle Asset Management Inc. now owns 649,897 shares of the company’s stock worth $24,163,000 after purchasing an additional 329,288 shares during the period. Finally, Redmile Group LLC bought a new position in Progyny during the 1st quarter worth about $12,241,000. 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.