Progyny, Inc. (NASDAQ:PGNY) Given Average Rating of “Hold” by Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.45.

Several research firms have recently weighed in on PGNY. Canaccord Genuity Group reduced their price target on Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, May 12th. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Monday, March 31st. Finally, Bank of America boosted their price target on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its stake in Progyny by 0.7% in the first quarter. New York State Teachers Retirement System now owns 73,200 shares of the company’s stock valued at $1,635,000 after buying an additional 500 shares during the period. Voya Investment Management LLC lifted its stake in Progyny by 1.4% in the fourth quarter. Voya Investment Management LLC now owns 51,792 shares of the company’s stock valued at $893,000 after buying an additional 701 shares during the period. Polen Capital Management LLC lifted its stake in Progyny by 0.3% in the first quarter. Polen Capital Management LLC now owns 261,506 shares of the company’s stock valued at $5,842,000 after buying an additional 798 shares during the period. Invesco Ltd. lifted its stake in Progyny by 0.4% in the first quarter. Invesco Ltd. now owns 275,936 shares of the company’s stock valued at $6,164,000 after buying an additional 1,117 shares during the period. Finally, Signaturefd LLC lifted its stake in Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after buying an additional 1,355 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Stock Up 1.3%

Progyny stock opened at $21.97 on Tuesday. Progyny has a 12-month low of $13.39 and a 12-month high of $30.42. The business’s 50-day moving average price is $22.00 and its two-hundred day moving average price is $20.48. The stock has a market cap of $1.88 billion, a PE ratio of 37.88, a P/E/G ratio of 2.39 and a beta of 1.32.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.28). The firm had revenue of $324.04 million for the quarter, compared to the consensus estimate of $307.86 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 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, analysts expect that Progyny will post 0.6 earnings per share for the current year.

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.