Progyny (NASDAQ:PGNY) Price Target Lowered to $17.00 at Canaccord Genuity Group

Progyny (NASDAQ:PGNY) had its price target decreased by Canaccord Genuity Group from $18.00 to $17.00 in a research report report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group reduced their price target on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Finally, BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Progyny presently has a consensus rating of “Hold” and an average price target of $25.42.

Progyny Price Performance

PGNY opened at $13.77 on Wednesday. Progyny has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The company’s 50-day moving average is $17.30 and its 200 day moving average is $23.30. The firm has a market capitalization of $1.17 billion, a P/E ratio of 23.74, a PEG ratio of 1.44 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. During the same period in the prior year, the business posted $0.16 EPS. Progyny’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Progyny will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On Progyny

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Progyny by 0.5% in the 1st 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. State Street Corp raised its holdings in Progyny by 4.5% in the third quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after purchasing an additional 134,861 shares during the period. International Assets Investment Management LLC lifted its position in Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after acquiring an additional 2,412,068 shares in the last quarter. Pacer Advisors Inc. increased its stake in Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new stake in shares of Progyny in the 3rd quarter valued at about $29,509,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.