Canaccord Genuity Group Cuts Progyny (NASDAQ:PGNY) Price Target to $17.00

Progyny (NASDAQ:PGNY) had its price target trimmed by Canaccord Genuity Group from $18.00 to $17.00 in a report published on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group cut their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. 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. JPMorgan Chase & Co. decreased their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and dropped their target price for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.42.

Progyny Trading Down 1.5 %

Shares of NASDAQ PGNY opened at $13.77 on Wednesday. The stock has a market capitalization of $1.17 billion, a PE ratio of 23.74, a PEG ratio of 1.31 and a beta of 1.44. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The stock has a fifty day simple moving average of $17.30 and a 200-day simple moving average of $23.36.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 5.03% and a return on equity of 11.36%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. On average, equities analysts predict that Progyny will post 0.64 earnings per share for the current year.

Institutional Trading of Progyny

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its stake in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after buying an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny in the second quarter valued at approximately $44,000. Mendota Financial Group LLC purchased a new position in shares of Progyny during the third quarter worth approximately $56,000. Meeder Asset Management Inc. purchased a new position in shares of Progyny during the third quarter worth approximately $77,000. Finally, Cambridge Trust Co. acquired a new position in shares of Progyny in the 1st quarter valued at $95,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.