Truist Financial Trims Progyny (NASDAQ:PGNY) Target Price to $33.00

Progyny (NASDAQ:PGNY) had its price objective decreased by investment analysts at Truist Financial from $37.00 to $33.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 52.71% from the stock’s current price.

Several other equities research analysts have also recently weighed in on PGNY. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price target on shares of Progyny in a research note on Thursday, May 16th. JMP Securities assumed coverage on Progyny in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price target for the company. Barclays decreased their price target on Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Canaccord Genuity Group restated a “hold” rating and set a $24.00 target price (down previously from $37.00) on shares of Progyny in a research report on Wednesday. Finally, BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Progyny currently has an average rating of “Hold” and an average price target of $34.50.

Progyny Stock Performance

Shares of Progyny stock traded up $0.65 during trading on Wednesday, reaching $21.61. 2,135,698 shares of the company’s stock were exchanged, compared to its average volume of 1,030,179. Progyny has a 1-year low of $19.60 and a 1-year high of $42.08. The firm’s 50-day moving average price is $27.42 and its 200 day moving average price is $32.28. The company has a market cap of $2.06 billion, a P/E ratio of 34.36, a PEG ratio of 1.76 and a beta of 1.46.

Progyny (NASDAQ:PGNY) last issued 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 11.61% and a net margin of 5.53%. The business had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Progyny will post 0.73 EPS for the current year.

Insider Activity at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction 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 transaction, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progyny

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its position in Progyny by 5.1% during the fourth quarter. Arizona State Retirement System now owns 24,003 shares of the company’s stock worth $892,000 after buying an additional 1,155 shares in the last quarter. New York State Teachers Retirement System grew its position in Progyny by 0.6% during the fourth quarter. New York State Teachers Retirement System now owns 77,434 shares of the company’s stock worth $2,879,000 after buying an additional 500 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Progyny by 142.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 80,853 shares of the company’s stock worth $3,042,000 after buying an additional 47,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Progyny by 2.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,351 shares of the company’s stock worth $1,314,000 after buying an additional 883 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Progyny by 352,414.2% during the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock worth $218,485,000 after buying an additional 5,874,744 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.