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

Progyny (NASDAQ:PGNY)‘s stock had its “hold” rating restated by analysts at Truist Financial in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $19.00 target price on the stock, down from their prior target price of $26.00. Truist Financial’s target price would indicate a potential upside of 35.91% from the stock’s current price.

Several other brokerages have also recently issued reports on PGNY. BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group decreased 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. Leerink Partners dropped their price objective 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. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.42.

Progyny Stock Performance

NASDAQ PGNY opened at $13.98 on Wednesday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.62 and a beta of 1.44. The firm has a 50 day simple moving average of $17.49 and a 200-day simple moving average of $23.49. Progyny has a one year low of $13.77 and a one year high of $42.08.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 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 business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same period in the prior year, the business earned $0.16 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict that Progyny will post 0.64 EPS for the current fiscal year.

Institutional Trading of Progyny

A number of hedge funds and other institutional investors have recently made changes to their positions in PGNY. RiverPark Advisors LLC grew its stake in Progyny by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after buying an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 acquiring an additional 543 shares during the period. Arizona State Retirement System increased its holdings in shares of Progyny by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock valued at $696,000 after acquiring an additional 609 shares during the period. State of New Jersey Common Pension Fund D raised its position in Progyny by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock valued at $2,023,000 after purchasing an additional 787 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Progyny by 4.6% during the 1st quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock worth $700,000 after purchasing an additional 804 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.