Barclays Issues Pessimistic Forecast for Progyny (NASDAQ:PGNY) Stock Price

Progyny (NASDAQ:PGNY) had its target price decreased by investment analysts at Barclays from $30.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 23.46% from the stock’s current price.

A number of other brokerages have also recently issued reports on PGNY. Bank of America cut their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group reduced their price objective on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Leerink Partners dropped their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Finally, Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Progyny presently has an average rating of “Hold” and an average price target of $25.42.

Progyny Trading Down 1.5 %

Shares of PGNY opened at $13.77 on Thursday. Progyny has a 52 week low of $13.39 and a 52 week high of $42.08. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.31 and a beta of 1.44. The stock has a 50 day moving average of $17.30 and a 200-day moving average of $23.36.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. On average, sell-side analysts predict that Progyny will post 0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after acquiring an additional 2,472,983 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after purchasing an additional 2,412,068 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Progyny during the third quarter valued at approximately $29,509,000. Farallon Capital Management LLC boosted its holdings in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Progyny by 530.4% in the third quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after buying an additional 594,140 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.