Barclays Has Lowered Expectations for Progyny (NASDAQ:PGNY) Stock Price

Progyny (NASDAQ:PGNY) had its price objective decreased by research analysts at Barclays from $30.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 22.30% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Progyny in a report on Tuesday, October 1st. Canaccord Genuity Group cut their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Finally, Bank of America lowered their price target on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Progyny currently has an average rating of “Hold” and an average target price of $25.42.

Progyny Stock Down 19.1 %

PGNY stock opened at $13.90 on Thursday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.62 and a beta of 1.44. Progyny has a twelve month low of $13.77 and a twelve month high of $42.08. The business’s fifty day simple moving average is $17.69 and its two-hundred day simple moving average is $23.56.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after purchasing an additional 2,472,983 shares in the last quarter. International Assets Investment Management LLC grew its position in Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after acquiring an additional 2,412,068 shares in the last quarter. Farallon Capital Management LLC increased its position in shares of Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after acquiring an additional 715,900 shares during the last quarter. Redmile Group LLC acquired a new position in Progyny during the 1st quarter worth $12,241,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 acquiring an additional 254,725 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

About Progyny

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.