Brokerages Set Progyny, Inc. (NASDAQ:PGNY) Target Price at $27.73

Progyny, Inc. (NASDAQ:PGNY) has earned an average recommendation of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.73.

A number of brokerages recently weighed in on PGNY. JPMorgan Chase & Co. cut their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Cantor Fitzgerald dropped their price target on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. BTIG Research cut shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group cut their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a report on Friday, September 20th.

Progyny Stock Down 0.2 %

PGNY stock opened at $16.76 on Thursday. The stock has a market cap of $1.51 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45. The firm’s 50-day simple moving average is $22.67 and its 200 day simple moving average is $27.78. Progyny has a fifty-two week low of $13.93 and a fifty-two week high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS 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 net margin of 5.54% and a return on equity of 11.97%. Progyny’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. Equities analysts forecast that Progyny will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Michael E. Sturmer sold 9,030 shares of the business’s 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 sale, the president now owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caprock Group LLC grew its position in Progyny by 5.3% during the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after purchasing an additional 319 shares in the last quarter. RiverPark Advisors LLC grew its holdings in shares of Progyny by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after acquiring an additional 474 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Progyny by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after acquiring an additional 500 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Progyny by 9.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after acquiring an additional 543 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after acquiring an additional 609 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.