Brokerages Set Progyny, Inc. (NASDAQ:PGNY) PT at $25.00

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given a consensus recommendation of “Hold” by the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.00.

A number of research firms recently issued reports on PGNY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Bank of America lowered their price target on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Finally, Barclays cut their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th.

Progyny Stock Up 1.9 %

Shares of PGNY stock opened at $14.89 on Tuesday. The stock has a market cap of $1.27 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.64 and a beta of 1.35. Progyny has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The business has a fifty day simple moving average of $15.51 and a 200-day simple moving average of $21.22.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. On average, sell-side analysts anticipate that Progyny will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Progyny

A number of large investors have recently modified their holdings of the stock. State Street Corp lifted its position in Progyny by 4.5% during the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after acquiring an additional 134,861 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Progyny by 1,576.0% during the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after purchasing an additional 2,412,068 shares during the period. Pacer Advisors Inc. lifted its position in shares of Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after purchasing an additional 2,472,983 shares in the last quarter. Invenomic Capital Management LP purchased a new position in shares of Progyny in the third quarter valued at $29,509,000. Finally, Farallon Capital Management LLC grew its holdings in Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after purchasing an additional 715,900 shares in the last quarter. 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.