Progyny’s (PGNY) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY)‘s stock had its “neutral” rating reissued by JPMorgan Chase & Co. in a note issued to investors on Monday, MarketBeat reports. They currently have a $17.00 price objective on the stock, down from their previous price objective of $22.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 10.39% from the stock’s previous close.

Several other brokerages have also weighed in on PGNY. Barclays lowered their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group cut their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Bank of America dropped their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

Progyny Stock Down 1.1 %

Shares of PGNY stock traded down $0.17 during mid-day trading on Monday, hitting $15.40. 94,161 shares of the stock were exchanged, compared to its average volume of 1,395,089. The firm has a fifty day moving average of $15.82 and a 200 day moving average of $22.19. Progyny has a 52-week low of $13.39 and a 52-week high of $42.08. The company has a market cap of $1.31 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company 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 posted $0.16 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict that Progyny will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Progyny by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,912 shares of the company’s stock worth $2,095,000 after purchasing an additional 2,947 shares during the period. Comerica Bank grew its holdings in Progyny by 5.3% during the 1st quarter. Comerica Bank now owns 67,547 shares of the company’s stock worth $2,577,000 after acquiring an additional 3,428 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Progyny in the 1st quarter worth approximately $321,000. SG Americas Securities LLC purchased a new stake in Progyny during the 2nd quarter worth approximately $374,000. Finally, Cooper Financial Group purchased a new position in Progyny during the 2nd quarter worth approximately $314,000. Hedge funds and other 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.