Progyny (NASDAQ:PGNY) Shares Gap Down – What’s Next?

Progyny, Inc. (NASDAQ:PGNY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.57, but opened at $15.20. Progyny shares last traded at $15.36, with a volume of 181,392 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial reiterated a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Bank of America decreased 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, November 13th. Canaccord Genuity Group cut shares of Progyny from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Finally, Barclays decreased their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Progyny has an average rating of “Hold” and a consensus price target of $25.00.

Progyny Stock Down 0.8 %

The stock’s 50-day moving average price is $15.82 and its 200 day moving average price is $22.15. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results 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 return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same period last year, the company earned $0.16 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts predict that Progyny, Inc. will post 0.58 EPS for the current year.

Institutional Trading of Progyny

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock worth $1,328,000 after buying an additional 40,694 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Progyny by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after buying an additional 22,012 shares during the last quarter. Kestrel Investment Management Corp bought a new stake in Progyny during the second quarter worth about $5,005,000. Farallon Capital Management LLC grew its stake in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after buying an additional 132,672 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

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.