Progyny (NASDAQ:PGNY) PT Lowered to $18.00

Progyny (NASDAQ:PGNY) had its target price trimmed by Canaccord Genuity Group from $24.00 to $18.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also commented on PGNY. Leerink Partners reduced their target price on Progyny from $25.00 to $21.00 and set a market perform rating for the company in a report on Thursday. Leerink Partnrs lowered Progyny from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. Canaccord Genuity Group lowered Progyny from a buy rating to a hold rating and dropped their price objective for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Truist Financial decreased their target price on Progyny from $33.00 to $26.00 and set a buy rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $27.73.

Progyny Stock Up 1.0 %

Shares of NASDAQ PGNY opened at $16.62 on Friday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45. The stock’s 50-day simple moving average is $24.08 and its two-hundred day simple moving average is $28.57. Progyny has a twelve month low of $13.93 and a twelve month high of $42.08.

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

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is owned by corporate insiders.

Institutional Trading of Progyny

Several large investors have recently modified their holdings of PGNY. Nordea Investment Management AB raised its stake in Progyny by 122.2% during the first quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after purchasing an additional 69,552 shares during the period. Bank of New York Mellon Corp grew its holdings in Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after acquiring an additional 22,012 shares in the last quarter. Kestrel Investment Management Corp acquired a new position in Progyny during the 2nd quarter worth $5,005,000. Jennison Associates LLC boosted its holdings in shares of Progyny by 2.7% in the 1st quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after buying an additional 67,632 shares during the period. Finally, M&G Plc acquired a new position in shares of Progyny in the 1st quarter valued at about $1,156,000. 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.