Progyny (NASDAQ:PGNY) PT Lowered to $25.00 at Cantor Fitzgerald

Progyny (NASDAQ:PGNY) had its target price lowered by Cantor Fitzgerald from $37.00 to $25.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Leerink Partners dropped their price objective on shares of Progyny from $25.00 to $21.00 and set a market perform rating on the stock in a research note on Thursday. Leerink Partnrs cut shares of Progyny from a strong-buy rating to a hold rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Progyny from $41.00 to $31.00 and set an overweight rating on the stock in a report on Monday, August 19th. BTIG Research downgraded Progyny from a buy rating to a neutral rating in a research note on Wednesday, August 7th. Finally, Truist Financial decreased their price target on Progyny from $37.00 to $33.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Progyny presently has a consensus rating of Hold and a consensus target price of $27.73.

Progyny Stock Performance

NASDAQ PGNY opened at $16.62 on Thursday. Progyny has a one year low of $13.93 and a one year high of $42.08. The firm has a market cap of $1.50 billion, a PE ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45. The firm’s fifty day moving average is $24.08 and its two-hundred day moving average is $28.61.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 EPS 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 firm had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. During the same period in the prior year, the business earned $0.15 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Progyny will post 0.64 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PGNY. Quarry LP lifted its stake in Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares in the last quarter. TFC Financial Management Inc. purchased a new stake in shares of Progyny in the first quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny during the second quarter valued at $44,000. Financial Management Professionals Inc. purchased a new stake in Progyny during the 1st quarter worth about $52,000. Finally, Cambridge Trust Co. acquired a new position in Progyny in the 1st quarter valued at about $95,000. 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.