Progyny, Inc. (NASDAQ:PGNY) Given Average Rating of "Hold" by Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have received an average recommendation of "Hold" from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $23.45.

PGNY has been the topic of several research reports. BTIG Research raised Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a research report on Monday, March 31st. Canaccord Genuity Group dropped their price objective on shares of Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Finally, Bank of America lifted their price target on shares of Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th.

Progyny Stock Performance

Shares of Progyny stock traded up $0.32 during midday trading on Tuesday, hitting $21.68. The company had a trading volume of 509,321 shares, compared to its average volume of 1,706,096. Progyny has a 52-week low of $13.39 and a 52-week high of $30.42. The stock has a market capitalization of $1.86 billion, a P/E ratio of 37.38, a P/E/G ratio of 2.39 and a beta of 1.37. The company has a 50 day moving average of $22.02 and a 200 day moving average of $20.35.

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 analysts' consensus estimates of $0.45 by ($0.28). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $324.04 million during the quarter, compared to analysts' expectations of $307.86 million. During the same period in the prior year, the company posted $0.17 earnings per share. The company's revenue was up 16.5% on a year-over-year basis. Equities research analysts forecast that Progyny will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Progyny

Several large investors have recently made changes to their positions in the business. Militia Capital Partners LP purchased a new position in shares of Progyny in the first quarter worth $45,000. Acadian Asset Management LLC lifted its stake in Progyny by 243.6% in the 1st quarter. Acadian Asset Management LLC now owns 205,650 shares of the company's stock worth $4,589,000 after purchasing an additional 145,802 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Progyny in the 1st quarter worth $344,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Progyny by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company's stock worth $5,630,000 after buying an additional 14,297 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of Progyny in the first quarter worth about $555,000. 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.