Progyny, Inc. (NASDAQ:PGNY) Receives $25.00 Average Target Price from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given a consensus recommendation of “Hold” by the thirteen research firms that are presently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.00.

PGNY has been the topic of a number of recent research reports. Truist Financial restated a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Leerink Partners reduced their price objective 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price objective (down previously from $22.00) on shares of Progyny in a research note on Monday, December 2nd. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st.

Progyny Stock Down 1.7 %

PGNY opened at $14.61 on Tuesday. Progyny has a 52 week low of $13.39 and a 52 week high of $42.08. The stock has a market cap of $1.24 billion, a PE ratio of 25.19, a PEG ratio of 1.73 and a beta of 1.35. The business has a 50 day moving average of $15.53 and a 200-day moving average of $21.34.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). The firm had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. Equities analysts anticipate that Progyny will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Progyny

Hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC boosted its holdings in shares of Progyny by 703.9% during the 2nd quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after acquiring an additional 40,694 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Progyny by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after purchasing an additional 22,012 shares during the last quarter. Kestrel Investment Management Corp bought a new stake in Progyny in the 2nd quarter worth approximately $5,005,000. Farallon Capital Management LLC raised its stake in Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after buying an additional 715,900 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in Progyny by 15.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock valued at $16,366,000 after buying an additional 132,672 shares during 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.