Progyny (NASDAQ:PGNY) PT Lowered to $26.00

Progyny (NASDAQ:PGNY) had its price objective cut by research analysts at Truist Financial from $33.00 to $26.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 56.44% from the stock’s previous close.

PGNY has been the subject of several other research reports. JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday. Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $24.00 price objective (down previously from $37.00) on shares of Progyny in a report 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 stock. According to MarketBeat, Progyny presently has a consensus rating of “Hold” and an average target price of $27.73.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $16.62 on Thursday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45. Progyny has a 1 year low of $13.93 and a 1 year high of $42.08. The stock’s 50-day simple moving average is $24.33 and its 200-day simple moving average is $28.78.

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

Insider Buying and Selling at Progyny

In other news, President Michael E. Sturmer sold 9,030 shares of the company’s 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 transaction, the president now owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the transaction, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progyny

Large investors have recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares in the last quarter. TFC Financial Management Inc. bought a new position in Progyny during the 1st quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progyny during the 2nd quarter valued at $44,000. Financial Management Professionals Inc. bought a new stake in shares of Progyny in the 1st quarter worth $52,000. Finally, Cambridge Trust Co. acquired a new stake in shares of Progyny in the first quarter valued at $95,000. Institutional investors and hedge funds 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.