Barclays Cuts Progyny (NASDAQ:PGNY) Price Target to $17.00

by · The Cerbat Gem

Progyny (NASDAQ:PGNY – Free Report) had its price objective lowered by Barclays from $30.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also commented on PGNY. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Bank of America lowered their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group reduced their target price on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday. Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group cut Progyny from a “buy” rating to a “hold” rating and reduced their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.42.

Check Out Our Latest Report on PGNY

Progyny Trading Down 1.5 %

Shares of NASDAQ:PGNY opened at $13.77 on Thursday. The company has a 50-day moving average price of $17.30 and a 200-day moving average price of $23.30. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. Progyny has a 12 month low of $13.39 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS 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 11.36%. The business had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts forecast that Progyny will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Progyny by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after purchasing an additional 41,687 shares in the last quarter. State Street Corp grew its holdings in shares of Progyny by 4.5% during the third quarter. State Street Corp now owns 3,113,654 shares of the company’s stock valued at $52,185,000 after buying an additional 134,861 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Progyny by 1,576.0% during the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after acquiring an additional 2,412,068 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after acquiring an additional 2,472,983 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in Progyny in the 3rd quarter valued at approximately $29,509,000. Institutional investors own 94.93% of the company’s stock.

About Progyny

(Get Free Report)

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.

Read More