Leerink Partners Trims Progyny (NASDAQ:PGNY) Target Price to $21.00

Progyny (NASDAQ:PGNY) had its price target reduced by Leerink Partners from $25.00 to $21.00 in a research note released on Thursday morning, Benzinga reports. Leerink Partners currently has a market perform rating on the stock.

Other research analysts also recently issued reports about the stock. Truist Financial lowered their price target on shares of Progyny from $37.00 to $33.00 and set a buy rating for the company in a report on Wednesday, August 7th. JMP Securities cut shares of Progyny from an outperform rating to a market perform rating in a research report on Thursday. Cantor Fitzgerald reiterated an overweight rating and set a $37.00 price target on shares of Progyny in a report on Tuesday, August 20th. BTIG Research downgraded Progyny from a buy rating to a neutral rating in a report on Wednesday, August 7th. Finally, Leerink Partnrs downgraded Progyny from a strong-buy rating to a hold rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Progyny presently has a consensus rating of Hold and a consensus price target of $27.73.

Progyny Stock Up 1.0 %

Shares of PGNY stock opened at $16.62 on Thursday. Progyny has a twelve month low of $13.93 and a twelve month high of $42.08. The business has a fifty day simple moving average of $24.08 and a 200 day simple moving average of $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 (NASDAQ:PGNY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $304.09 million for the quarter, compared to the consensus estimate of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. As a group, equities research analysts anticipate that Progyny will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the transaction, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several large investors have recently added to or reduced their stakes in PGNY. Caprock Group LLC raised its stake in shares of Progyny by 5.3% in the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after purchasing an additional 319 shares during the last quarter. RiverPark Advisors LLC grew its holdings in Progyny by 9.6% during the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after buying an additional 474 shares in the last quarter. State of Michigan Retirement System raised its position in Progyny by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after buying an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Progyny by 9.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock valued at $239,000 after acquiring an additional 543 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Progyny by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after acquiring an additional 609 shares during the last quarter. 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.