Bank of America Issues Pessimistic Forecast for Progyny (NASDAQ:PGNY) Stock Price

Progyny (NASDAQ:PGNY) had its price target lowered by Bank of America from $22.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 50.21% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Canaccord Genuity Group decreased their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday. BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Leerink Partners lowered their price target 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.42.

Progyny Trading Up 0.6 %

PGNY opened at $13.98 on Wednesday. The business’s 50 day moving average is $17.49 and its 200-day moving average is $23.49. The stock has a market cap of $1.19 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. Progyny has a twelve month low of $13.77 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share 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 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 firm earned $0.16 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that Progyny will post 0.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. RiverPark Advisors LLC lifted its position in shares of Progyny by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after acquiring an additional 474 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Progyny by 9.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock valued at $239,000 after purchasing an additional 543 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Progyny by 2.6% in the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after buying an additional 609 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of Progyny by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock valued at $2,023,000 after buying an additional 787 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Progyny by 4.6% during the first quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock valued at $700,000 after buying an additional 804 shares in the last quarter. 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.