Progyny (NASDAQ:PGNY) Price Target Lowered to $25.00 at Cantor Fitzgerald

Progyny (NASDAQ:PGNY) had its price target lowered by Cantor Fitzgerald from $37.00 to $25.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on PGNY. Canaccord Genuity Group reiterated a hold rating and issued a $24.00 price target (down previously from $37.00) on shares of Progyny in a report on Wednesday, August 7th. Leerink Partners reduced their target price on Progyny from $25.00 to $21.00 and set a market perform rating on the stock in a report on Thursday. JPMorgan Chase & Co. lowered their price target on Progyny from $41.00 to $31.00 and set an overweight rating for the company in a research report on Monday, August 19th. Canaccord Genuity Group downgraded Progyny from a buy rating to a hold rating and cut their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Finally, JMP Securities cut Progyny from an outperform rating to a market perform rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $27.73.

Progyny Trading Up 1.0 %

Progyny stock opened at $16.62 on Thursday. The stock has a fifty day moving average price of $24.08 and a 200 day moving average price of $28.61. Progyny has a 52 week low of $13.93 and a 52 week high of $42.08. The firm has a market capitalization of $1.50 billion, a P/E ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the prior year, the company posted $0.15 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Progyny will post 0.64 EPS for the current year.

Insider Buying and Selling

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the sale, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Progyny

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP boosted its holdings in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares during the last quarter. TFC Financial Management Inc. acquired a new position in shares of Progyny in the 1st quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Progyny during the 2nd quarter valued at approximately $44,000. Financial Management Professionals Inc. acquired a new stake in shares of Progyny during the first quarter worth approximately $52,000. Finally, Cambridge Trust Co. bought a new stake in shares of Progyny in the first quarter worth $95,000. 94.93% of the stock is owned by hedge funds and other 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.