JMP Securities Trims Progyny (NASDAQ:PGNY) Target Price to $31.00

Progyny (NASDAQ:PGNY) had its target price decreased by JMP Securities from $36.00 to $31.00 in a research report report published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

PGNY has been the topic of several other research reports. Canaccord Genuity Group restated a hold rating and issued a $24.00 price target (down previously from $37.00) on shares of Progyny in a research note on Wednesday. KeyCorp cut Progyny from an overweight rating to a sector weight rating in a report on Friday, May 10th. Canaccord Genuity Group cut Progyny from a buy rating to a hold rating and cut their price target for the company from $37.00 to $24.00 in a report on Wednesday. Barclays cut their price target on Progyny from $48.00 to $30.00 and set an overweight rating on the stock in a report on Monday, May 13th. Finally, SVB Leerink cut Progyny from an outperform rating to a market perform rating and dropped their target price for the stock from $31.00 to $25.00 in a report on Wednesday. Six 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, Progyny currently has an average rating of Hold and an average price target of $34.50.

Progyny Trading Up 3.1 %

NASDAQ PGNY traded up $0.65 during trading hours on Wednesday, reaching $21.61. The company’s stock had a trading volume of 2,221,506 shares, compared to its average volume of 1,028,364. The business has a 50-day simple moving average of $27.31 and a 200 day simple moving average of $32.12. Progyny has a 52 week low of $19.60 and a 52 week high of $42.08. The stock has a market cap of $2.06 billion, a PE ratio of 35.43, a PEG ratio of 1.67 and a beta of 1.46.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.48%. The firm had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter last year, the company posted $0.15 earnings per share. Progyny’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts predict that Progyny will post 0.73 EPS for the current year.

Insider Buying and Selling at Progyny

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

Hedge Funds Weigh In On Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Progyny by 122.2% during the 1st quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock valued at $4,891,000 after acquiring an additional 69,552 shares in the last quarter. Vitruvian Partners LLP purchased a new position in shares of Progyny during the 4th quarter valued at $2,957,000. Louisiana State Employees Retirement System purchased a new position in shares of Progyny during the 4th quarter valued at $870,000. Jennison Associates LLC boosted its holdings in Progyny by 2.7% in the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after purchasing an additional 67,632 shares in the last quarter. Finally, M&G Plc bought a new stake in Progyny in the first quarter worth $1,156,000. 94.93% of the stock is currently 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.