Progyny (NASDAQ:PGNY) Given New $26.00 Price Target at Truist Financial

Progyny (NASDAQ:PGNY) had its price target reduced by Truist Financial from $33.00 to $26.00 in a research report released on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Leerink Partnrs cut shares of Progyny from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on Progyny from $31.00 to $22.00 and set an overweight rating for the company in a report on Thursday. Canaccord Genuity Group downgraded Progyny from a buy rating to a hold rating and lowered their price target for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Canaccord Genuity Group reaffirmed a hold rating and issued a $24.00 price objective (down from $37.00) on shares of Progyny in a research report on Wednesday, August 7th. Finally, Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a market perform rating on the stock in a report on Thursday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Progyny currently has an average rating of Hold and a consensus target price of $27.73.

Progyny Trading Up 1.0 %

Shares of PGNY opened at $16.62 on Thursday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45. Progyny has a 12 month low of $13.93 and a 12 month high of $42.08. The firm has a fifty day simple moving average of $24.08 and a 200 day simple moving average of $28.57.

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

Insider Buying and Selling at Progyny

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

Institutional Trading of Progyny

A number of institutional investors have recently modified their holdings 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 purchasing an additional 836 shares in the last quarter. TFC Financial Management Inc. bought a new position in Progyny in the 1st quarter valued at about $42,000. Financial Management Professionals Inc. acquired a new position in shares of Progyny in the 1st quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progyny during the 2nd quarter worth approximately $44,000. Finally, Cambridge Trust Co. acquired a new stake in shares of Progyny during the 1st quarter worth approximately $95,000. 94.93% of the stock is currently owned by 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.