Progyny (NASDAQ:PGNY) Trading Down 3% - Here's Why

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) was down 3% on Thursday . The company traded as low as $13.94 and last traded at $14.06. Approximately 88,378 shares changed hands during trading, a decline of 94% from the average daily volume of 1,397,694 shares. The stock had previously closed at $14.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PGNY shares. Leerink Partners reduced their price target on shares of Progyny from $25.00 to $21.00 and set a "market perform" rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group decreased their price target on Progyny from $18.00 to $17.00 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Jefferies Financial Group dropped their price objective on Progyny from $31.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. JPMorgan Chase & Co. restated a "neutral" rating and set a $17.00 target price (down from $22.00) on shares of Progyny in a report on Monday, December 2nd. Finally, Barclays lowered their target price on Progyny from $30.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $25.00.

Progyny Stock Down 2.1 %

The firm has a market capitalization of $1.21 billion, a PE ratio of 24.47, a PEG ratio of 1.64 and a beta of 1.35. The business's fifty day moving average price is $15.39 and its 200 day moving average price is $21.04.

Progyny (NASDAQ:PGNY - Get Free Report) last released 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). The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. On average, analysts anticipate that Progyny, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP raised its position in Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company's stock worth $25,000 after acquiring an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny during the 2nd quarter worth about $44,000. Mendota Financial Group LLC acquired a new position in shares of Progyny in the third quarter valued at approximately $56,000. Meeder Asset Management Inc. purchased a new stake in Progyny in the 3rd quarter worth approximately $77,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Progyny in the 2nd quarter valued at $97,000. 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.