Truist Financial Cuts Progyny (NASDAQ:PGNY) Price Target to $33.00

Progyny (NASDAQ:PGNY) had its price target lowered by Truist Financial from $37.00 to $33.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on PGNY. Canaccord Genuity Group reiterated a hold rating and issued a $24.00 target price (down previously from $37.00) on shares of Progyny in a report on Wednesday. KeyCorp lowered shares of Progyny from an overweight rating to a sector weight rating in a research note on Friday, May 10th. JMP Securities started coverage on shares of Progyny in a research note on Tuesday, July 16th. They issued an outperform rating and a $36.00 target price on the stock. Canaccord Genuity Group lowered shares of Progyny from a buy rating to a hold rating and lowered their target price for the stock from $37.00 to $24.00 in a report on Wednesday. Finally, Barclays cut their price target on shares of Progyny from $48.00 to $30.00 and set an overweight rating on the stock in a report on Monday, May 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $34.50.

Progyny Stock Performance

NASDAQ:PGNY traded up $0.65 during trading hours on Wednesday, reaching $21.61. The stock had a trading volume of 2,221,506 shares, compared to its average volume of 1,028,364. The stock has a market capitalization of $2.06 billion, a PE ratio of 35.43, a PEG ratio of 1.67 and a beta of 1.46. Progyny has a 52 week low of $19.60 and a 52 week high of $42.08. The company has a 50 day moving average price of $27.31 and a two-hundred day moving average price of $32.12.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.48%. The company had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. Progyny’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts predict that Progyny will post 0.73 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Progyny

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its position in Progyny by 5.1% during the fourth quarter. Arizona State Retirement System now owns 24,003 shares of the company’s stock valued at $892,000 after purchasing an additional 1,155 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Progyny by 0.6% in the 4th quarter. New York State Teachers Retirement System now owns 77,434 shares of the company’s stock worth $2,879,000 after buying an additional 500 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Progyny by 142.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 80,853 shares of the company’s stock worth $3,042,000 after buying an additional 47,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Progyny by 2.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,351 shares of the company’s stock worth $1,314,000 after acquiring an additional 883 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Progyny by 352,414.2% during the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock valued at $218,485,000 after acquiring an additional 5,874,744 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

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.