Progyny, Inc. (NASDAQ:PGNY) Receives Average Recommendation of “Hold” from Brokerages

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

PGNY has been the subject of several research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price target (down from $22.00) on shares of Progyny in a report on Monday, December 2nd. Canaccord Genuity Group reduced their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Leerink Partners lowered their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Barclays decreased their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Bank of America dropped their price target on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Progyny Stock Up 7.3 %

NASDAQ:PGNY opened at $15.84 on Tuesday. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.35. The stock’s 50 day moving average price is $15.61 and its two-hundred day moving average price is $21.63.

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

Institutional Trading of Progyny

Several hedge funds have recently modified their holdings of PGNY. Hsbc Holdings PLC grew its holdings in shares of Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after buying an additional 40,694 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after purchasing an additional 22,012 shares during the last quarter. Kestrel Investment Management Corp bought a new stake in Progyny during the 2nd quarter worth approximately $5,005,000. Farallon Capital Management LLC raised its stake in shares of Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in shares of Progyny by 15.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock valued at $16,366,000 after purchasing an additional 132,672 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

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.