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

Progyny, Inc. (NASDAQ:PGNY) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings 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 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.00.

A number of brokerages have issued reports on PGNY. Bank of America decreased their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Leerink Partners reduced their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. Jefferies Financial Group cut their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group lowered their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th.

Progyny Trading Up 7.3 %

Shares of PGNY stock opened at $15.84 on Tuesday. The stock’s 50-day moving average price is $15.61 and its 200-day moving average price is $21.63. Progyny has a 12-month low of $13.39 and a 12-month high of $42.08. The stock 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.

Progyny (NASDAQ:PGNY) last issued 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). The firm had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. As a group, research analysts predict that Progyny will post 0.59 EPS for the current fiscal year.

Institutional Trading of Progyny

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progyny in the second quarter valued at approximately $44,000. Mendota Financial Group LLC bought a new stake in shares of Progyny during the third quarter worth $56,000. Meeder Asset Management Inc. acquired a new stake in shares of Progyny during the third quarter worth $77,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Progyny in the 2nd quarter valued at $97,000. 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.