JPMorgan Chase & Co. Reiterates Neutral Rating for Progyny (NASDAQ:PGNY)

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Progyny (NASDAQ:PGNY) in a research report report published on Monday, MarketBeat reports. They currently have a $17.00 price target on the stock, down from their previous price target of $22.00.

A number of other equities research analysts have also weighed in on the company. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research report on Tuesday, October 1st. Bank of America cut their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Barclays lowered their price target on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Canaccord Genuity Group cut their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Progyny has an average rating of “Hold” and an average price target of $25.00.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $15.59 on Monday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 26.48, a PEG ratio of 1.80 and a beta of 1.44. Progyny has a one year low of $13.39 and a one year high of $42.08. The firm’s 50 day simple moving average is $15.82 and its two-hundred day simple moving average is $22.15.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. Progyny’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. As a group, equities analysts expect that Progyny will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. RiverPark Advisors LLC increased its stake in shares of Progyny by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after acquiring an additional 474 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Progyny by 2.6% during 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 during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Progyny by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after purchasing an additional 787 shares in the last quarter. Quarry LP grew its stake in shares of Progyny by 1,900.0% in the 2nd 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. Finally, Creative Planning increased its position 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 in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.