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

Progyny (NASDAQ:PGNY) had its target price cut by Canaccord Genuity Group from $18.00 to $17.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. Truist Financial reissued a “hold” rating and set a $19.00 price target (down from $26.00) on shares of Progyny in a report on Wednesday. Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and reduced their price target for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Leerink Partners cut their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.42.

Progyny Trading Down 1.5 %

Progyny stock opened at $13.77 on Wednesday. The stock has a 50 day moving average of $17.30 and a two-hundred day moving average of $23.36. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.31 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. Progyny’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. Equities analysts predict that Progyny will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently added to or reduced their stakes in PGNY. Vanguard Group Inc. lifted its holdings in shares of Progyny by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after purchasing an additional 41,687 shares in the last quarter. State Street Corp raised its position in shares of Progyny by 4.5% during the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after purchasing an additional 134,861 shares during the last quarter. International Assets Investment Management LLC raised 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. Pacer Advisors Inc. lifted its stake in Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in Progyny during the 3rd quarter valued at $29,509,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.