Progyny (NASDAQ:PGNY) PT Lowered to $21.00 at Leerink Partners

Progyny (NASDAQ:PGNY) had its price target lowered by Leerink Partners from $25.00 to $21.00 in a research report sent to investors on Thursday, Benzinga reports. Leerink Partners currently has a market perform rating on the stock.

Several other research firms have also commented on PGNY. JMP Securities lowered shares of Progyny from an outperform rating to a market perform rating in a research report on Thursday. Cantor Fitzgerald reissued an overweight rating and set a $37.00 price target on shares of Progyny in a research report on Tuesday, August 20th. BTIG Research downgraded Progyny from a buy rating to a neutral rating in a research report on Wednesday, August 7th. Canaccord Genuity Group cut 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 report on Wednesday, August 7th. Finally, Canaccord Genuity Group restated a hold rating and issued a $24.00 target price (down from $37.00) on shares of Progyny in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $27.73.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $16.62 on Thursday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The business’s 50 day simple moving average is $24.08 and its 200-day simple moving average is $28.57. Progyny has a 12 month low of $13.93 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last posted 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. The company had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. Progyny’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. On average, equities analysts anticipate that Progyny will post 0.64 earnings per share for the current year.

Insider Activity at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred 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 transaction, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the sale, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is owned by insiders.

Institutional Trading of Progyny

A number of institutional investors have recently added to or reduced their stakes in PGNY. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progyny during the second quarter worth about $44,000. Quarry LP raised its holdings in shares of Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares during the period. Creative Planning lifted its position in Progyny by 13.8% during the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock worth $302,000 after acquiring an additional 1,283 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Progyny by 1.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 528,412 shares of the company’s stock worth $15,118,000 after acquiring an additional 9,358 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in Progyny in the second quarter valued at approximately $286,000. 94.93% of the stock is 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.