Progyny (NASDAQ:PGNY) Price Target Lowered to $17.00 at Barclays

Progyny (NASDAQ:PGNY) had its target price lowered by Barclays from $30.00 to $17.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group dropped their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Leerink Partners decreased their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Canaccord Genuity Group cut shares of Progyny from a “buy” rating to a “hold” rating and decreased their target price for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Progyny in a research report on Tuesday, October 1st. Finally, Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.42.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $13.77 on Thursday. The stock has a market cap of $1.17 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.44 and a beta of 1.44. The firm has a fifty day moving average price of $17.30 and a 200 day moving average price of $23.24. Progyny has a 1-year low of $13.39 and a 1-year high of $42.08.

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

Institutional Trading of Progyny

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its stake in shares of Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after buying an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progyny in the second quarter worth $44,000. Cambridge Trust Co. bought a new stake in shares of Progyny in the first quarter worth $95,000. Natixis Investment Managers International bought a new stake in shares of Progyny in the first quarter worth $117,000. Finally, Mendota Financial Group LLC bought a new stake in shares of Progyny in the third quarter worth $56,000. 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.