Canaccord Genuity Group Cuts Progyny (NASDAQ:PGNY) Price Target to $21.00

Progyny (NASDAQ:PGNY) had its price objective lowered by Canaccord Genuity Group from $23.00 to $21.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America upped their price objective on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, BTIG Research raised shares of Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.45.

Progyny Stock Up 0.8%

Shares of NASDAQ PGNY opened at $21.86 on Monday. The firm has a 50-day simple moving average of $21.99 and a 200-day simple moving average of $19.64. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. Progyny has a 52 week low of $13.39 and a 52 week high of $30.42.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.28). The business had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. As a group, equities research analysts expect that Progyny will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in Progyny by 1,355.0% during the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $25,000 after buying an additional 1,355 shares during the period. GAMMA Investing LLC boosted its stake in Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after buying an additional 1,246 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Progyny in the first quarter valued at approximately $44,000. Nisa Investment Advisors LLC boosted its stake in shares of Progyny by 108.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock valued at $51,000 after purchasing an additional 1,526 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Progyny by 5,216.4% in the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company’s stock valued at $72,000 after purchasing an additional 3,182 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.