Progyny (NASDAQ:PGNY) Trading 4.4% Higher – Here’s What Happened

Progyny, Inc. (NASDAQ:PGNY) shares were up 4.4% during mid-day trading on Thursday . The stock traded as high as $14.65 and last traded at $14.51. Approximately 474,443 shares were traded during trading, a decline of 66% from the average daily volume of 1,385,783 shares. The stock had previously closed at $13.90.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PGNY shares. Leerink Partners dropped their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.42.

Progyny Stock Up 0.6 %

The business’s 50-day moving average is $17.69 and its 200-day moving average is $23.56. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.62 and a beta of 1.44.

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

Institutional Trading of Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. Vanguard Group Inc. boosted its holdings in Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock worth $317,097,000 after buying an additional 41,687 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Progyny by 1,576.0% during the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after buying an additional 2,412,068 shares in the last quarter. Pacer Advisors Inc. raised its position in Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after acquiring an additional 2,472,983 shares during the last quarter. Farallon Capital Management LLC raised its position in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after acquiring an additional 715,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Progyny by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after acquiring an additional 254,725 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.