Brokerages Set Progyny, Inc. (NASDAQ:PGNY) Price Target at $25.42

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $25.42.

A number of research firms have commented on PGNY. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Canaccord Genuity Group decreased their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and cut their target price for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Truist Financial restated a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered their price target on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $13.77 on Friday. The business has a fifty day moving average of $17.30 and a 200-day moving average of $23.24. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The firm has a market cap of $1.17 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.44 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 analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. On average, analysts anticipate that Progyny will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN lifted its stake in Progyny by 56.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 826,726 shares of the company’s stock valued at $13,856,000 after acquiring an additional 298,314 shares during the last quarter. Barclays PLC raised its holdings in shares of Progyny by 530.4% in the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after purchasing an additional 594,140 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Progyny in the 3rd quarter valued at about $469,000. Wellington Management Group LLP grew its holdings in Progyny by 4.0% during the third quarter. Wellington Management Group LLP now owns 430,300 shares of the company’s stock worth $7,212,000 after purchasing an additional 16,638 shares during the period. Finally, Wolverine Trading LLC grew its holdings in Progyny by 131.5% during the third quarter. Wolverine Trading LLC now owns 19,677 shares of the company’s stock worth $331,000 after purchasing an additional 11,177 shares during the period. 94.93% of the stock is currently owned by 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.