Truist Financial Reaffirms “Hold” Rating for Progyny (NASDAQ:PGNY)

Progyny (NASDAQ:PGNY)‘s stock had its “hold” rating reiterated by equities research analysts at Truist Financial in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $19.00 price target on the stock, down from their previous price target of $26.00. Truist Financial’s price objective points to a potential upside of 35.91% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Leerink Partners decreased their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group cut their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Jefferies Financial Group reduced their target price on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, Canaccord Genuity Group cut shares of Progyny from a “buy” rating to a “hold” rating and lowered their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Progyny has a consensus rating of “Hold” and a consensus price target of $25.42.

Progyny Trading Up 0.6 %

NASDAQ:PGNY opened at $13.98 on Wednesday. Progyny has a 12-month low of $13.77 and a 12-month high of $42.08. The stock’s 50 day simple moving average is $17.49 and its 200-day simple moving average is $23.49. The firm has a market cap of $1.26 billion, a P/E ratio of 24.10, a PEG ratio of 1.62 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 10.87%. The firm had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that Progyny will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC grew its position in shares of Progyny by 9.6% in the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after purchasing an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Progyny by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock valued at $239,000 after buying an additional 543 shares in the last quarter. Arizona State Retirement System grew 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 valued at $696,000 after buying an additional 609 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Progyny by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after buying an additional 787 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Progyny by 4.6% during the first quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock worth $700,000 after buying an additional 804 shares in the last quarter. Institutional investors and hedge funds 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.