Progyny (NASDAQ:PGNY) PT Lowered to $21.00 at Leerink Partners

Progyny (NASDAQ:PGNY) had its price objective decreased by equities research analysts at Leerink Partners from $25.00 to $21.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Leerink Partners’ target price would indicate a potential downside of 14.08% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Truist Financial lowered their price objective on shares of Progyny from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and decreased their price target for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Progyny from $41.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Progyny has an average rating of “Hold” and an average target price of $31.50.

Progyny Stock Down 1.5 %

PGNY opened at $24.44 on Thursday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 40.07, a PEG ratio of 1.88 and a beta of 1.45. The firm has a 50 day moving average price of $24.62 and a 200-day moving average price of $28.90. Progyny has a twelve month low of $19.60 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $304.09 million during 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 revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. As a group, analysts expect that Progyny will post 0.64 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. Farallon Capital Management LLC raised its stake in 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 buying an additional 715,900 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Progyny in the 4th quarter worth $14,608,000. Norges Bank purchased a new stake in shares of Progyny during the 4th quarter worth $14,198,000. Eagle Asset Management Inc. boosted its position in Progyny by 102.7% during the fourth quarter. Eagle Asset Management Inc. now owns 649,897 shares of the company’s stock valued at $24,163,000 after purchasing an additional 329,288 shares in the last quarter. Finally, Redmile Group LLC purchased a new position in Progyny in the first quarter valued at about $12,241,000. 94.93% of the stock is currently owned by 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.