Truist Financial Trims Progyny (NASDAQ:PGNY) Target Price to $26.00

Progyny (NASDAQ:PGNY) had its price target decreased by Truist Financial from $33.00 to $26.00 in a report published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

PGNY has been the subject of a number of other research reports. BTIG Research cut Progyny from a buy rating to a neutral rating in a report on Wednesday, August 7th. Canaccord Genuity Group lowered shares of Progyny from a buy rating to a hold rating and lowered their target price for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Progyny from $31.00 to $22.00 and set an overweight rating on the stock in a research note on Thursday. Cantor Fitzgerald decreased their price objective on shares of Progyny from $37.00 to $25.00 and set an overweight rating for the company in a report on Thursday. Finally, Canaccord Genuity Group restated a hold rating and issued a $24.00 target price (down from $37.00) on shares of Progyny in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $27.73.

Progyny Trading Up 1.0 %

Shares of PGNY opened at $16.62 on Thursday. The company’s fifty day simple moving average is $24.08 and its 200-day simple moving average is $28.61. The company has a market cap of $1.50 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45. Progyny has a twelve month low of $13.93 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts predict that Progyny will post 0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael E. Sturmer sold 9,030 shares of the business’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 completion of the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Charles Schwab Investment Management Inc. lifted its position in shares of Progyny by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,687 shares of the company’s stock valued at $23,969,000 after buying an additional 14,039 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Progyny by 14.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 844,679 shares of the company’s stock valued at $31,406,000 after acquiring an additional 105,544 shares during the last quarter. Norges Bank acquired a new stake in Progyny in the fourth quarter valued at approximately $14,198,000. Assetmark Inc. grew its holdings in Progyny by 26.8% in the fourth quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock worth $140,000 after purchasing an additional 793 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its position in shares of Progyny by 26.8% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 75,680 shares of the company’s stock worth $2,814,000 after purchasing an additional 15,980 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.