Progyny (NASDAQ:PGNY) Hits New 52-Week High – Still a Buy?

Progyny, Inc. (NASDAQ:PGNY) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $27.76 and last traded at $27.4720, with a volume of 434039 shares changing hands. The stock had previously closed at $26.63.

Analyst Ratings Changes

Several research firms have recently weighed in on PGNY. Wall Street Zen cut Progyny from a “buy” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group increased their price target on shares of Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a report on Monday, November 17th. JPMorgan Chase & Co. boosted their price objective on shares of Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research note on Monday. Finally, Barclays assumed coverage on Progyny in a research report on Monday, December 8th. They set an “overweight” rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Progyny Stock Performance

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The firm’s 50-day moving average price is $23.31 and its two-hundred day moving average price is $22.63.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The firm had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. As a group, equities research analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the completion of the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter Anevski acquired 79,500 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the acquisition, the chief executive officer owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 22,046 shares of company stock worth $561,691 over the last quarter. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Invesco Ltd. increased its holdings in shares of Progyny by 0.4% during the first quarter. Invesco Ltd. now owns 275,936 shares of the company’s stock worth $6,164,000 after buying an additional 1,117 shares in the last quarter. Russell Investments Group Ltd. grew its position in Progyny by 103.8% during the 1st quarter. Russell Investments Group Ltd. now owns 103,014 shares of the company’s stock worth $2,301,000 after acquiring an additional 52,466 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Progyny by 445.4% in the first quarter. American Century Companies Inc. now owns 102,443 shares of the company’s stock valued at $2,289,000 after purchasing an additional 83,660 shares in the last quarter. Cresset Asset Management LLC bought a new position in Progyny in the 1st quarter worth approximately $233,000. Finally, Wellington Management Group LLP lifted its holdings in Progyny by 67.7% during the 1st quarter. Wellington Management Group LLP now owns 660,982 shares of the company’s stock worth $14,766,000 after buying an additional 266,853 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.