Cantor Fitzgerald Reaffirms Overweight Rating for Progyny (NASDAQ:PGNY)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Progyny (NASDAQ:PGNY) in a research report released on Tuesday, Benzinga reports. The firm currently has a $25.00 price objective on the stock.

A number of other brokerages have also commented on PGNY. Jefferies Financial Group cut their price target on Progyny from $31.00 to $24.00 and set a buy rating on the stock in a research note on Thursday, September 19th. JMP Securities lowered shares of Progyny from an outperform rating to a market perform rating in a report on Thursday, September 19th. JPMorgan Chase & Co. decreased their price target on shares of Progyny from $31.00 to $22.00 and set an overweight rating for the company in a research report on Thursday, September 19th. Leerink Partnrs lowered shares of Progyny from a strong-buy rating to a hold rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group decreased 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Progyny has a consensus rating of Hold and an average price target of $27.73.

Progyny Trading Up 3.0 %

Shares of NASDAQ PGNY opened at $16.30 on Tuesday. The stock has a 50-day moving average price of $21.94 and a two-hundred day moving average price of $27.49. Progyny has a 12 month low of $13.93 and a 12 month high of $42.08. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.58 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The firm 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%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. On average, sell-side analysts predict that Progyny will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Michael E. Sturmer sold 9,030 shares of the firm’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 completion of the sale, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Institutional investors have recently made changes to their positions in the stock. Quarry LP raised its position in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the period. TFC Financial Management Inc. acquired a new position in Progyny during the first quarter worth $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Progyny in the second quarter valued at $44,000. Financial Management Professionals Inc. acquired a new position in shares of Progyny during the first quarter valued at about $52,000. Finally, Cambridge Trust Co. bought a new stake in shares of Progyny during the first quarter worth about $95,000. Institutional investors and hedge funds 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.