Progyny (NASDAQ:PGNY) Price Target Lowered to $25.00 at Cantor Fitzgerald

Progyny (NASDAQ:PGNY) had its price objective lowered by Cantor Fitzgerald from $37.00 to $25.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on PGNY. BTIG Research downgraded shares of Progyny from a buy rating to a neutral rating in a research report on Wednesday, August 7th. Leerink Partnrs downgraded shares of Progyny from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. Canaccord Genuity Group restated a hold rating and issued a $24.00 target price (down previously from $37.00) on shares of Progyny in a report on Wednesday, August 7th. Canaccord Genuity Group downgraded Progyny from a buy rating to a hold rating and lowered their price target for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Finally, JMP Securities lowered Progyny from an outperform rating to a market perform rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $27.73.

Progyny Stock Performance

NASDAQ PGNY opened at $16.62 on Thursday. Progyny has a 1 year low of $13.93 and a 1 year high of $42.08. The business’s fifty day moving average is $24.08 and its two-hundred day moving average is $28.57. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The company had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Progyny’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Progyny will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other Progyny news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the sale, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the transaction, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the sale, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Progyny

Institutional investors have recently modified their holdings of the company. Caprock Group LLC boosted its stake in Progyny by 5.3% during the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after purchasing an additional 319 shares during the period. RiverPark Advisors LLC grew its stake in shares of Progyny by 9.6% in the second 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. State of Michigan Retirement System increased its position in Progyny by 2.5% during the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock worth $781,000 after acquiring an additional 500 shares during the period. Allspring Global Investments Holdings LLC increased its position in 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 acquiring an additional 543 shares during the period. Finally, Arizona State Retirement System raised its stake 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 purchasing an additional 609 shares during the last quarter. Institutional investors 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.