Progyny (NASDAQ:PGNY) Stock Price Up 4.4% – Here’s What Happened

Progyny, Inc. (NASDAQ:PGNY)’s stock price rose 4.4% during trading on Thursday . The stock traded as high as $14.65 and last traded at $14.51. Approximately 474,443 shares changed hands during trading, a decline of 66% from the average daily volume of 1,385,783 shares. The stock had previously closed at $13.90.

Analyst Ratings Changes

A number of analysts recently issued reports on PGNY shares. Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Barclays lowered their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Bank of America decreased their price target on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Truist Financial restated a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Progyny presently has a consensus rating of “Hold” and an average price target of $25.42.

Progyny Stock Down 1.5 %

The stock has a market capitalization of $1.17 billion, a PE ratio of 23.74, a PEG ratio of 1.31 and a beta of 1.44. The firm’s fifty day moving average is $17.30 and its 200-day moving average is $23.36.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the company posted $0.16 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Progyny, Inc. will post 0.64 EPS for the current year.

Institutional Trading of Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. Quarry LP increased its holdings 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 buying an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny in the 2nd quarter worth approximately $44,000. Mendota Financial Group LLC purchased a new position in Progyny in the 3rd quarter valued at approximately $56,000. Meeder Asset Management Inc. purchased a new position in Progyny in the 3rd quarter valued at approximately $77,000. Finally, Cambridge Trust Co. acquired a new position in Progyny during the first quarter worth $95,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Company Profile

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.