Progyny (NASDAQ:PGNY) Given New $17.00 Price Target at Barclays

Progyny (NASDAQ:PGNY) had its target price lowered by Barclays from $30.00 to $17.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on PGNY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Leerink Partners cut their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research note on Wednesday. Bank of America dropped their price target on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Eight 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 a consensus target price of $25.42.

Progyny Stock Down 1.5 %

NASDAQ PGNY traded down $0.21 during trading hours on Thursday, hitting $13.77. 2,132,894 shares of the stock were exchanged, compared to its average volume of 1,397,067. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. Progyny has a 12-month low of $13.39 and a 12-month high of $42.08. The stock has a 50-day moving average of $17.49 and a 200 day moving average of $23.49.

Progyny (NASDAQ:PGNY) last issued 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). The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, equities research analysts expect that Progyny will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently modified their holdings of PGNY. Quarry LP raised its holdings in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Progyny in the second quarter valued at about $44,000. Mendota Financial Group LLC acquired a new position in Progyny in the third quarter valued at about $56,000. Meeder Asset Management Inc. acquired a new position in Progyny in the third quarter valued at about $77,000. Finally, Cambridge Trust Co. acquired a new position in shares of Progyny during the first quarter worth about $95,000. 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.