Progyny (NASDAQ:PGNY) Price Target Lowered to $21.00 at Bank of America

Progyny (NASDAQ:PGNY) had its price objective lowered by analysts at Bank of America from $22.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 50.21% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday. Truist Financial reaffirmed a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research note on Wednesday. Canaccord Genuity Group cut shares of Progyny from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Finally, Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Progyny has an average rating of “Hold” and an average target price of $25.42.

Progyny Stock Up 0.6 %

Progyny stock opened at $13.98 on Wednesday. Progyny has a 12 month low of $13.77 and a 12 month high of $42.08. The stock has a market cap of $1.19 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.31 and a beta of 1.44. The company’s fifty day simple moving average is $17.49 and its 200-day simple moving average is $23.49.

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). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter last year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that Progyny will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Progyny by 9.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock valued at $239,000 after acquiring an additional 543 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Progyny in the 1st quarter worth $213,000. Swiss National Bank increased its holdings in shares of 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 purchasing an additional 1,000 shares during the period. Russell Investments Group Ltd. raised its position in shares of Progyny by 15.0% during the first quarter. Russell Investments Group Ltd. now owns 135,904 shares of the company’s stock valued at $5,185,000 after buying an additional 17,701 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Progyny by 4.6% in the first quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock valued at $700,000 after buying an additional 804 shares during the period. 94.93% of the stock is owned by institutional investors.

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.