Barclays Cuts Progyny (NASDAQ:PGNY) Price Target to $17.00

Progyny (NASDAQ:PGNY) had its price objective lowered by equities researchers at Barclays from $30.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 23.46% from the company’s previous close.

Other analysts have also recently issued reports about 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. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their target price for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Finally, Leerink Partners dropped their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Progyny presently has a consensus rating of “Hold” and a consensus price target of $25.42.

Progyny Stock Performance

NASDAQ PGNY opened at $13.77 on Thursday. The firm’s 50 day moving average price is $17.30 and its two-hundred day moving average price is $23.36. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.31 and a beta of 1.44.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Progyny by 1,900.0% in the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Progyny in the second quarter valued at $44,000. Mendota Financial Group LLC bought a new position in shares of Progyny during the third quarter valued at $56,000. Meeder Asset Management Inc. acquired a new stake in shares of Progyny in the 3rd quarter valued at $77,000. Finally, Cambridge Trust Co. acquired a new stake in shares of Progyny during the 1st quarter worth about $95,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.