Progyny (NASDAQ:PGNY) PT Lowered to $26.00 at Truist Financial

Progyny (NASDAQ:PGNY) had its target price reduced by Truist Financial from $33.00 to $26.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on PGNY. Canaccord Genuity Group downgraded Progyny from a buy rating to a hold rating and cut their price objective for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. JMP Securities lowered Progyny from an outperform rating to a market perform rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on Progyny from $31.00 to $22.00 and set an overweight rating for the company in a research note on Thursday. Cantor Fitzgerald cut their target price on shares of Progyny from $37.00 to $25.00 and set an overweight rating on the stock in a research report on Thursday. Finally, BTIG Research lowered shares of Progyny from a buy rating to a neutral rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $27.73.

Progyny Trading Up 1.0 %

PGNY stock opened at $16.62 on Thursday. The firm has a 50-day moving average price of $24.08 and a 200-day moving average price of $28.57. Progyny has a 12 month low of $13.93 and a 12 month high of $42.08. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The business 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 firm earned $0.15 EPS. The firm’s 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 fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Progyny

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