Progyny, Inc. (NASDAQ:PGNY) Receives $25.42 Consensus Target Price from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $25.42.

Several equities research analysts have recently issued reports on PGNY shares. Jefferies Financial Group lowered their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Canaccord Genuity Group lowered their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Leerink Partners decreased their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th.

Institutional Investors Weigh In On Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. Allspring Global Investments Holdings LLC grew its holdings in shares of Progyny by 9.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock valued at $239,000 after purchasing an additional 543 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Progyny during the 1st quarter worth approximately $213,000. Swiss National Bank grew its holdings in Progyny by 0.6% during the 1st quarter. Swiss National Bank now owns 170,200 shares of the company’s stock worth $6,493,000 after acquiring an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Progyny by 15.0% during the 1st quarter. Russell Investments Group Ltd. now owns 135,904 shares of the company’s stock worth $5,185,000 after acquiring an additional 17,701 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Progyny by 4.6% during the 1st quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock worth $700,000 after acquiring an additional 804 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

Progyny Price Performance

PGNY opened at $13.67 on Friday. The company’s 50 day simple moving average is $16.92 and its 200-day simple moving average is $22.98. Progyny has a one year low of $13.39 and a one year high of $42.08. The stock has a market capitalization of $1.16 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, analysts anticipate that Progyny will post 0.64 EPS for the current year.

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.