Truist Financial Reiterates "Hold" Rating for Progyny (NASDAQ:PGNY)

Truist Financial reiterated their hold rating on shares of Progyny (NASDAQ:PGNY - Free Report) in a research note published on Wednesday, Marketbeat Ratings reports. Truist Financial currently has a $19.00 price target on the stock, down from their previous price target of $26.00.

PGNY has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price objective on shares of Progyny from $31.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, September 19th. JMP Securities lowered shares of Progyny from an "outperform" rating to a "market perform" rating in a research note on Thursday, September 19th. Leerink Partnrs lowered shares of Progyny from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group downgraded shares of Progyny from a "buy" rating to a "hold" rating and lowered their target price for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.50.

Progyny Trading Down 19.1 %

PGNY stock traded down $3.28 during midday trading on Wednesday, reaching $13.90. The stock had a trading volume of 5,393,476 shares, compared to its average volume of 1,389,900. The company's fifty day simple moving average is $17.88 and its 200 day simple moving average is $23.62. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. Progyny has a 52-week low of $13.77 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to analysts' expectations of $296.85 million. Progyny had a return on equity of 10.87% and a net margin of 5.03%. The firm's revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Sell-side analysts predict that Progyny will post 0.64 EPS for the current year.

Hedge Funds Weigh In On Progyny

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company's stock worth $317,097,000 after purchasing an additional 41,687 shares during the last quarter. International Assets Investment Management LLC increased its position in Progyny by 1,576.0% during the third 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 during the last quarter. Pacer Advisors Inc. increased its position in Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company's stock worth $41,777,000 after purchasing an additional 2,472,983 shares during the last quarter. Farallon Capital Management LLC increased its position 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 purchasing an additional 715,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Progyny by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company's stock worth $36,676,000 after purchasing an additional 254,725 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company's stock.

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.