Progyny, Inc. (NASDAQ:PGNY) Receives $27.73 Average Price Target from Analysts

Progyny, Inc. (NASDAQ:PGNY) has earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.73.

A number of brokerages have weighed in on PGNY. Leerink Partners cut 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. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group dropped their price target on shares of Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, September 20th. JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Finally, Jefferies Financial Group dropped their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, September 19th.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently bought and sold shares of the company. Caprock Group LLC raised its stake in Progyny by 5.3% during the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after buying an additional 319 shares during the last quarter. RiverPark Advisors LLC raised its stake in Progyny by 9.6% during the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after buying an additional 474 shares during the last quarter. State of Michigan Retirement System raised its stake in Progyny by 2.5% during the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock worth $781,000 after buying an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Progyny by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after buying an additional 543 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Progyny by 2.6% in the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock valued at $696,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Trading Down 1.7 %

NASDAQ PGNY opened at $15.86 on Monday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.59 and a beta of 1.43. The firm’s 50 day simple moving average is $19.65 and its 200 day simple moving average is $25.49. Progyny has a 1 year low of $13.93 and a 1 year high of $42.08.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The firm had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Progyny will post 0.64 earnings per share for the current year.

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.