Progyny (NASDAQ:PGNY) Price Target Lowered to $17.00 at Barclays

Progyny (NASDAQ:PGNY) had its price objective trimmed by Barclays from $30.00 to $17.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Canaccord Genuity Group reduced their price target on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Leerink Partners reduced their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Finally, Bank of America reduced their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Eight equities research 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, the stock presently has an average rating of “Hold” and a consensus target price of $25.42.

Progyny Stock Performance

PGNY traded down $0.21 on Thursday, hitting $13.77. 2,132,894 shares of the company were exchanged, compared to its average volume of 1,397,067. 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 PE ratio of 24.10, a PEG ratio of 1.31 and a beta of 1.44. The stock’s fifty day moving average is $17.49 and its 200-day moving average is $23.49.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, equities research analysts expect that Progyny will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp raised its position in 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. Point72 Asset Management L.P. raised its position in Progyny by 227.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 789,418 shares of the company’s stock worth $13,231,000 after purchasing an additional 548,602 shares during the last quarter. Invenomic Capital Management LP bought a new position in Progyny during the 3rd quarter worth $29,509,000. Point72 Asia Singapore Pte. Ltd. raised its position in Progyny by 2,283.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,544 shares of the company’s stock worth $612,000 after purchasing an additional 35,011 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in Progyny during the 3rd quarter worth $597,000. 94.93% of the stock is currently owned by 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.