Progyny (NASDAQ:PGNY) PT Lowered to $33.00 at Truist Financial

Progyny (NASDAQ:PGNY) had its price objective decreased by Truist Financial from $37.00 to $33.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. KeyCorp cut shares of Progyny from an overweight rating to a sector weight rating in a research report on Friday, May 10th. Barclays decreased their price target on shares of Progyny from $48.00 to $30.00 and set an overweight rating for the company in a research report on Monday, May 13th. Cantor Fitzgerald reissued an overweight rating and issued a $48.00 price objective on shares of Progyny in a research report on Thursday, May 16th. BTIG Research cut Progyny from a buy rating to a neutral rating in a research note on Wednesday. Finally, JMP Securities started coverage on Progyny in a research note on Tuesday, July 16th. They issued an outperform rating and a $36.00 target price for the company. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $34.50.

Progyny Price Performance

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

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.48% and a net margin of 5.54%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, analysts predict that Progyny will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 1,462 shares of the firm’s 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 completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 owns 362,583 shares of the company’s stock, valued at $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Progyny

Institutional investors and hedge funds have recently made changes to their positions in the company. TFC Financial Management Inc. bought a new stake in Progyny during the first quarter valued at $42,000. Financial Management Professionals Inc. acquired a new stake in Progyny during the first quarter worth about $52,000. Cambridge Trust Co. acquired a new stake in Progyny during the first quarter worth about $95,000. 1620 Investment Advisors Inc. bought a new position in Progyny in the second quarter worth about $97,000. Finally, Parkside Financial Bank & Trust boosted its stake in Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after acquiring an additional 264 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

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.