Progyny (NASDAQ:PGNY) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY) had its price objective trimmed by JPMorgan Chase & Co. from $31.00 to $22.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on the company. BTIG Research cut Progyny from a buy rating to a neutral rating in a research report on Wednesday, August 7th. JMP Securities cut Progyny from an outperform rating to a market perform rating in a research report on Thursday. Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a market perform rating for the company in a research report on Thursday. Truist Financial reduced their price objective on Progyny from $37.00 to $33.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Finally, Leerink Partnrs downgraded Progyny from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Progyny has an average rating of Hold and a consensus target price of $28.27.

Progyny Stock Performance

NASDAQ:PGNY opened at $16.46 on Thursday. The stock has a 50-day simple moving average of $24.56 and a 200-day simple moving average of $28.87. The stock has a market cap of $1.57 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.88 and a beta of 1.45. Progyny has a 1 year low of $13.93 and a 1 year high of $42.08.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS. On average, equities research analysts predict that Progyny will post 0.64 EPS for the current year.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 1,462 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was 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 of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Progyny in the 2nd quarter valued at approximately $44,000. Quarry LP grew its holdings in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares during the last quarter. Creative Planning grew its holdings in Progyny by 13.8% during the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock valued at $302,000 after buying an additional 1,283 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Progyny by 1.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 528,412 shares of the company’s stock valued at $15,118,000 after buying an additional 9,358 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in Progyny during the 2nd quarter valued at $286,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.