Progyny, Inc. (NASDAQ:PGNY) Receives $23.64 Consensus Price Target from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $23.45.

PGNY has been the topic of a number of recent research reports. BTIG Research raised Progyny from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Monday, March 31st. Canaccord Genuity Group reduced their price objective on Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday. Bank of America lifted their price target on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th.

Hedge Funds Weigh In On Progyny

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Progyny by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 8,692,132 shares of the company’s stock valued at $149,939,000 after buying an additional 48,271 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Progyny by 47.5% in the 4th quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock worth $63,414,000 after purchasing an additional 1,183,558 shares during the period. River Road Asset Management LLC acquired a new stake in Progyny in the 4th quarter valued at $25,529,000. Fort Washington Investment Advisors Inc. OH grew its position in shares of Progyny by 90.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after purchasing an additional 695,740 shares during the period. Finally, Barclays PLC lifted its position in shares of Progyny by 95.7% in the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company’s stock valued at $23,843,000 after acquiring an additional 676,048 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

Progyny Trading Down 1.5%

Progyny stock opened at $21.68 on Friday. Progyny has a 12 month low of $13.39 and a 12 month high of $30.42. The business’s fifty day simple moving average is $21.97 and its two-hundred day simple moving average is $19.62. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.28). The company had revenue of $324.04 million during the quarter, compared to analysts’ expectations of $307.86 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. On average, equities research analysts predict that Progyny will post 0.6 EPS 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.