Progyny (NASDAQ:PGNY) Given New $18.00 Price Target at Canaccord Genuity Group

Progyny (NASDAQ:PGNY) had its target price reduced by Canaccord Genuity Group from $24.00 to $18.00 in a research report released on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also commented on PGNY. JPMorgan Chase & Co. lowered their price target on shares of Progyny from $31.00 to $22.00 and set an overweight rating for the company in a research report on Thursday. BTIG Research lowered shares of Progyny from a buy rating to a neutral rating in a research note on Wednesday, August 7th. Truist Financial cut their price target on Progyny from $33.00 to $26.00 and set a buy rating on the stock in a report on Thursday. Leerink Partners decreased their price objective on Progyny from $25.00 to $21.00 and set a market perform rating for the company in a report on Thursday. Finally, Jefferies Financial Group cut their target price on Progyny from $31.00 to $24.00 and set a buy rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Progyny has an average rating of Hold and a consensus target price of $27.73.

Progyny Stock Up 1.0 %

Shares of NASDAQ PGNY opened at $16.62 on Friday. The firm’s 50-day moving average price is $24.33 and its two-hundred day moving average price is $28.78. Progyny has a 52-week low of $13.93 and a 52-week high of $42.08. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, equities research analysts expect that Progyny will post 0.64 earnings per share for the current year.

Insider Activity at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Cheryl Scott sold 1,462 shares of the business’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 sale, the director now directly owns 10,098 shares in the company, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of the 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 sale, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Progyny

Several large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progyny in the 2nd quarter valued at $44,000. Quarry LP boosted its holdings 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 period. Creative Planning increased its position in shares of Progyny by 13.8% in the second quarter. Creative Planning now owns 10,564 shares of the company’s stock worth $302,000 after acquiring an additional 1,283 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Progyny by 1.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 528,412 shares of the company’s stock valued at $15,118,000 after acquiring an additional 9,358 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Progyny in the 2nd quarter valued at approximately $286,000. 94.93% of the stock is owned by 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.