KeyCorp Cuts Progyny (NASDAQ:PGNY) Price Target to $45.00

Progyny (NASDAQ:PGNY) had its target price trimmed by KeyCorp from $50.00 to $45.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock. KeyCorp also issued estimates for Progyny’s Q4 2023 earnings at $0.08 EPS, FY2023 earnings at $0.56 EPS, Q1 2024 earnings at $0.17 EPS, Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.19 EPS, FY2024 earnings at $0.72 EPS and FY2025 earnings at $1.27 EPS.

Several other brokerages also recently issued reports on PGNY. Canaccord Genuity Group started coverage on shares of Progyny in a research report on Wednesday, September 27th. They set a buy rating and a $46.00 price objective for the company. Canaccord Genuity Group started coverage on Progyny in a research note on Wednesday, September 27th. They issued a buy rating and a $46.00 price target on the stock. Truist Financial upped their price objective on Progyny from $48.00 to $52.00 and gave the stock a buy rating in a research report on Friday, August 11th. JPMorgan Chase & Co. dropped their target price on Progyny from $58.00 to $57.00 and set an overweight rating on the stock in a research report on Monday, October 9th. Finally, Cantor Fitzgerald upped their price target on Progyny from $45.00 to $48.00 and gave the stock an overweight rating in a research report on Thursday, September 14th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $47.00.

Progyny Stock Up 2.0 %

Shares of PGNY stock opened at $30.18 on Wednesday. Progyny has a 12-month low of $28.03 and a 12-month high of $44.95. The firm has a fifty day moving average of $33.27 and a 200-day moving average of $36.40. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $271.20 million. Progyny had a return on equity of 11.64% and a net margin of 5.03%. The company’s revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. Research analysts expect that Progyny will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Loomis Sayles & Co. L P boosted its holdings in shares of Progyny by 6.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,010,278 shares of the company’s stock valued at $34,369,000 after buying an additional 63,136 shares during the last quarter. Rhumbline Advisers raised its position in Progyny by 5.0% during the third quarter. Rhumbline Advisers now owns 261,569 shares of the company’s stock worth $8,899,000 after acquiring an additional 12,366 shares in the last quarter. Deutsche Bank AG lifted its stake in Progyny by 12.7% in the third quarter. Deutsche Bank AG now owns 42,029 shares of the company’s stock valued at $1,430,000 after acquiring an additional 4,738 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Progyny by 4.7% in the 3rd quarter. Texas Permanent School Fund Corp now owns 70,464 shares of the company’s stock valued at $2,397,000 after acquiring an additional 3,162 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its position in shares of Progyny by 29.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 31,671 shares of the company’s stock valued at $1,077,000 after acquiring an additional 7,193 shares during the period. 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 for employers 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.