Progyny, Inc. (NASDAQ:PGNY) Given Average Rating 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. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.42.

Several equities analysts recently commented on the stock. Truist Financial reiterated a “hold” rating and set a $19.00 target price (down from $26.00) on shares of Progyny in a research note on Wednesday. Jefferies Financial Group reduced their target price 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 Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Leerink Partners cut their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. decreased 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.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $13.98 on Friday. The stock’s 50-day moving average is $17.49 and its 200-day moving average is $23.49. The company has a market cap of $1.26 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.62 and a beta of 1.44. Progyny has a 52-week low of $13.77 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last released 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 10.87%. The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. During the same period last year, the business earned $0.16 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that Progyny will post 0.64 EPS for the current year.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently made changes to their positions in the company. RiverPark Advisors LLC grew its position 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 acquiring an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Progyny by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after purchasing an additional 543 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Progyny by 1.1% in the second 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 buying an additional 787 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Progyny by 4.6% in the first quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock valued at $700,000 after buying an additional 804 shares during the last quarter. 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.