Progyny (NASDAQ:PGNY) Given New $21.00 Price Target at Canaccord Genuity Group

Progyny (NASDAQ:PGNY - Get Free Report) had its target price cut by analysts at Canaccord Genuity Group from $23.00 to $21.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price target would suggest a potential downside of 4.33% from the stock's current price.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. BTIG Research upgraded shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price target for the company in a research report on Monday, March 31st. Finally, Bank of America raised their price objective on Progyny from $21.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $23.45.

Progyny Stock Up 0.4%

Shares of NASDAQ PGNY traded up $0.09 during trading hours on Monday, hitting $21.95. The company had a trading volume of 1,049,926 shares, compared to its average volume of 1,714,054. Progyny has a 1-year low of $13.39 and a 1-year high of $30.42. The stock has a market capitalization of $1.88 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. The firm's 50 day moving average is $21.99 and its 200-day moving average is $19.64.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.28). The firm had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. On average, sell-side analysts predict that Progyny will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Progyny

Hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in shares of Progyny by 530.4% in the 3rd quarter. Barclays PLC now owns 706,157 shares of the company's stock valued at $11,835,000 after acquiring an additional 594,140 shares during the period. Franklin Resources Inc. raised its position in Progyny by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,248 shares of the company's stock valued at $759,000 after purchasing an additional 7,003 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company's stock valued at $28,000 after purchasing an additional 1,246 shares during the last quarter. Leibman Financial Services Inc. raised its position in Progyny by 100.7% during the 4th quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company's stock worth $1,096,000 after buying an additional 31,872 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Progyny in the fourth quarter valued at about $187,000. 94.93% of the stock is 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.