Bank of America Cuts Progyny (NASDAQ:PGNY) Price Target to $21.00

Progyny (NASDAQ:PGNY) had its price target lowered by Bank of America from $22.00 to $21.00 in a report issued on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

PGNY has been the topic of several other research reports. Canaccord Genuity Group lowered their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. Leerink Partners dropped their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Finally, JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Eight equities research 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, the company currently has an average rating of “Hold” and an average price target of $25.42.

Progyny Stock Down 1.5 %

Progyny stock opened at $13.77 on Wednesday. Progyny has a twelve month low of $13.39 and a twelve month high of $42.08. The company has a market capitalization of $1.17 billion, a P/E ratio of 23.74, a PEG ratio of 1.44 and a beta of 1.44. The stock’s 50 day moving average is $17.30 and its 200 day moving average is $23.30.

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 the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Progyny will post 0.64 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PGNY. Disciplined Growth Investors Inc. MN lifted its holdings in Progyny by 56.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 826,726 shares of the company’s stock valued at $13,856,000 after purchasing an additional 298,314 shares in the last quarter. Barclays PLC raised its position in shares of Progyny by 530.4% during the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after purchasing an additional 594,140 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Progyny during the 3rd quarter valued at $469,000. Wellington Management Group LLP increased its stake in Progyny by 4.0% in the 3rd quarter. Wellington Management Group LLP now owns 430,300 shares of the company’s stock worth $7,212,000 after buying an additional 16,638 shares in the last quarter. Finally, Wolverine Trading LLC lifted its position in shares of Progyny by 131.5% in the third quarter. Wolverine Trading LLC now owns 19,677 shares of the company’s stock valued at $331,000 after acquiring an additional 11,177 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

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.