Cantor Fitzgerald Trims Progyny (NASDAQ:PGNY) Target Price to $37.00

Progyny (NASDAQ:PGNY) had its price target decreased by Cantor Fitzgerald from $48.00 to $37.00 in a research note issued to investors on Wednesday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other research firms have also issued reports on PGNY. JMP Securities initiated coverage on Progyny in a research note on Tuesday, July 16th. They set an outperform rating and a $36.00 target price on the stock. Truist Financial dropped their price objective on shares of Progyny from $37.00 to $33.00 and set a buy rating for the company in a report on Wednesday. KeyCorp lowered shares of Progyny from an overweight rating to a sector weight rating in a report on Friday, May 10th. Canaccord Genuity Group reissued a hold rating and issued a $24.00 price target (down previously from $37.00) on shares of Progyny in a research report on Wednesday. Finally, SVB Leerink downgraded shares of Progyny from an outperform rating to a market perform rating and lowered their target price for the stock from $31.00 to $25.00 in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $34.50.

Progyny Stock Performance

Shares of NASDAQ PGNY traded up $0.65 during mid-day trading on Wednesday, reaching $21.61. 2,221,506 shares of the company’s stock were exchanged, compared to its average volume of 1,028,364. The company’s 50-day moving average is $27.31 and its 200-day moving average is $32.12. The firm has a market capitalization of $2.06 billion, a price-to-earnings 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.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates 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 prior year, the company posted $0.15 earnings per share. Progyny’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Progyny will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction 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 owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The shares were 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 in the company, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Progyny by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after buying an additional 41,687 shares during the last quarter. International Assets Investment Management LLC raised its stake in Progyny by 352,414.2% during the 4th 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. Jennison Associates LLC lifted its position in Progyny by 2.7% during the 1st quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after acquiring an additional 67,632 shares during the period. Principal Financial Group Inc. lifted its position in Progyny by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company’s stock worth $53,437,000 after acquiring an additional 42,302 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Progyny by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock valued at $36,676,000 after purchasing an additional 254,725 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.