Progyny (NASDAQ:PGNY) Shares Gap Down – What’s Next?

Shares of Progyny, Inc. (NASDAQ:PGNY) gapped down prior to trading on Monday . The stock had previously closed at $15.57, but opened at $15.20. Progyny shares last traded at $15.36, with a volume of 181,392 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Bank of America dropped their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Leerink Partnrs downgraded Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group decreased their price target on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

Progyny Stock Down 0.8 %

The company has a 50-day moving average price of $15.82 and a 200-day moving average price of $22.15. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.80 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. During the same period in the previous year, the firm earned $0.16 EPS. Progyny’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts forecast that Progyny, Inc. will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Progyny by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,912 shares of the company’s stock worth $2,095,000 after purchasing an additional 2,947 shares in the last quarter. Comerica Bank grew its holdings in shares of Progyny by 5.3% during the 1st quarter. Comerica Bank now owns 67,547 shares of the company’s stock valued at $2,577,000 after acquiring an additional 3,428 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Progyny during the 1st quarter valued at $321,000. SG Americas Securities LLC purchased a new position in shares of Progyny during the 2nd quarter valued at $374,000. Finally, Cooper Financial Group purchased a new position in shares of Progyny during the 2nd quarter valued at $314,000. 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.