Progyny (NASDAQ:PGNY) Given New $17.00 Price Target at Canaccord Genuity Group

Progyny (NASDAQ:PGNY) had its target price reduced by Canaccord Genuity Group from $18.00 to $17.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Progyny in a research report on Tuesday, October 1st. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Finally, Leerink Partners reduced their price objective 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Progyny has a consensus rating of “Hold” and a consensus target price of $26.50.

Progyny Price Performance

Progyny stock opened at $13.90 on Wednesday. Progyny has a 1-year low of $13.77 and a 1-year high of $42.08. The company has a market cap of $1.25 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. The stock’s 50 day moving average price is $17.69 and its 200 day moving average price is $23.56.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 10.87%. The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Progyny will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently added to or reduced their stakes in PGNY. Quarry LP increased its stake 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny during the second quarter worth about $44,000. Mendota Financial Group LLC acquired a new stake in Progyny during the third quarter worth about $56,000. Meeder Asset Management Inc. acquired a new stake in Progyny during the third quarter worth about $77,000. Finally, Cambridge Trust Co. acquired a new stake in Progyny during the first quarter worth about $95,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.