Bank of America Lowers Progyny (NASDAQ:PGNY) Price Target to $21.00

Progyny (NASDAQ:PGNY) had its price target trimmed by Bank of America from $22.00 to $21.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also weighed in on PGNY. Truist Financial reissued a “hold” rating and set a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Jefferies Financial Group dropped their target price on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Canaccord Genuity Group dropped their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” 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 MarketBeat, Progyny has a consensus rating of “Hold” and a consensus target price of $26.50.

Progyny Price Performance

Shares of PGNY stock opened at $13.90 on Wednesday. Progyny has a fifty-two week low of $13.77 and a fifty-two week high of $42.08. The stock’s 50-day moving average is $17.69 and its two-hundred day moving average is $23.56. The firm has a market cap of $1.25 billion, a P/E ratio of 23.97, a PEG ratio of 1.62 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 10.87% and a net margin of 5.03%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. As a group, research analysts expect that Progyny will post 0.64 EPS for the current year.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently bought and sold shares of PGNY. Quarry LP raised its stake in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Progyny during the second quarter worth approximately $44,000. Mendota Financial Group LLC acquired a new stake in Progyny during the third quarter worth approximately $56,000. Meeder Asset Management Inc. acquired a new stake in Progyny during the third quarter worth approximately $77,000. Finally, Cambridge Trust Co. acquired a new stake in Progyny during the first quarter worth approximately $95,000. 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.