Progyny’s (PGNY) Hold Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of Progyny (NASDAQ:PGNY) in a report released on Wednesday morning, MarketBeat.com reports. They currently have a $19.00 target price on the stock, down from their previous target price of $26.00.

A number of other research analysts have also recently issued reports on the company. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group reduced their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reduced their price objective on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.42.

Progyny Stock Down 1.5 %

NASDAQ PGNY traded down $0.21 on Wednesday, reaching $13.77. The company had a trading volume of 2,387,969 shares, compared to its average volume of 1,398,215. Progyny has a 52 week low of $13.39 and a 52 week high of $42.08. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.31 and a beta of 1.44. The stock’s 50 day moving average is $17.30 and its 200-day moving average is $23.36.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $296.85 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that Progyny will post 0.64 EPS for the current year.

Institutional Investors Weigh In On Progyny

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock worth $1,328,000 after buying an additional 40,694 shares in the last quarter. Bank of New York Mellon Corp grew its position in Progyny by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after buying an additional 22,012 shares in the last quarter. Kestrel Investment Management Corp acquired a new stake in Progyny during the second quarter worth approximately $5,005,000. Farallon Capital Management LLC grew its position in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after buying an additional 132,672 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.