Progyny (NASDAQ:PGNY) PT Lowered to $22.00 at JPMorgan Chase & Co.

Progyny (NASDAQ:PGNY) had its price objective decreased by JPMorgan Chase & Co. from $31.00 to $22.00 in a research report released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PGNY has been the topic of several other reports. Truist Financial lowered their price objective on shares of Progyny from $37.00 to $33.00 and set a buy rating on the stock in a research 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. BTIG Research lowered Progyny from a buy rating to a neutral rating in a research report on Wednesday, August 7th. Canaccord Genuity Group restated a hold rating and set a $24.00 price objective (down from $37.00) on shares of Progyny in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald dropped their target price on Progyny from $37.00 to $25.00 and set an overweight rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Progyny currently has an average rating of Hold and a consensus price target of $27.73.

Progyny Stock Up 1.0 %

Shares of NASDAQ PGNY opened at $16.62 on Thursday. Progyny has a 12 month low of $13.93 and a 12 month high of $42.08. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45. The business has a fifty day simple moving average of $24.08 and a 200-day simple moving average of $28.61.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company had revenue of $304.09 million during the quarter, compared to analyst estimates of $305.32 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that Progyny will post 0.64 EPS for the current fiscal year.

Insider Transactions at Progyny

In related news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now owns 10,098 shares in the company, valued at approximately $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently made changes to their positions in PGNY. Quarry LP boosted its position in shares of Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares in the last quarter. TFC Financial Management Inc. bought a new position in Progyny during the first quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Progyny during the second quarter worth about $44,000. Financial Management Professionals Inc. acquired a new stake in Progyny during the first quarter valued at approximately $52,000. Finally, Cambridge Trust Co. bought a new stake in shares of Progyny in the 1st quarter valued at approximately $95,000. Institutional investors and hedge funds 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.