Progyny (NASDAQ:PGNY) PT Lowered to $18.00

Progyny (NASDAQ:PGNY) had its price target lowered by Canaccord Genuity Group from $24.00 to $18.00 in a report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 8.30% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday. Jefferies Financial Group dropped their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and dropped their price objective for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald dropped their price objective on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Leerink Partnrs downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.73.

Progyny Trading Up 1.0 %

Shares of Progyny stock opened at $16.62 on Friday. The company has a 50 day moving average of $24.08 and a 200-day moving average of $28.61. Progyny has a 1-year low of $13.93 and a 1-year high of $42.08. The company has a market cap of $1.50 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45.

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

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred 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 directly owns 10,098 shares in the company, valued at approximately $286,682.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, President Michael E. Sturmer sold 9,030 shares of the 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 sale, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Cheryl Scott sold 1,462 shares of the 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 sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Progyny during the second quarter worth $44,000. Quarry LP boosted its stake in Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after acquiring an additional 836 shares in the last quarter. Creative Planning boosted its stake in Progyny by 13.8% during the second 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 stake in Progyny by 1.8% during the second 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 in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in Progyny during the second quarter worth $286,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.