Progyny (NASDAQ:PGNY) Given “Neutral” Rating at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY)‘s stock had its “neutral” rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued on Monday, MarketBeat.com reports. They presently have a $17.00 price objective on the stock, down from their prior price objective of $22.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.48% from the company’s current price.

A number of other brokerages have also recently commented on PGNY. 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, November 13th. Truist Financial reiterated a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Finally, Leerink Partners lowered 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. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progyny has an average rating of “Hold” and an average target price of $25.00.

Progyny Trading Down 4.7 %

Shares of PGNY stock opened at $14.85 on Monday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 25.60, a PEG ratio of 1.80 and a beta of 1.35. The firm’s 50 day moving average is $15.79 and its 200 day moving average is $22.07. Progyny has a 12 month low of $13.39 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business 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 quarter in the previous year, the company posted $0.16 earnings per share. On average, equities analysts predict that Progyny will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP grew its stake in shares of Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after acquiring an additional 836 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progyny in the second quarter worth approximately $44,000. Mendota Financial Group LLC bought a new stake in shares of Progyny in the third quarter worth approximately $56,000. Meeder Asset Management Inc. bought a new stake in shares of Progyny in the third quarter worth approximately $77,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Progyny in the second quarter worth approximately $97,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.