Progyny (NASDAQ:PGNY) Stock Rating Upgraded by Truist Financial

Progyny (NASDAQ:PGNY) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $34.00 price objective on the stock. Truist Financial’s price target would suggest a potential upside of 22.53% from the stock’s previous close.

A number of other equities analysts also recently commented on PGNY. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Barclays initiated coverage on Progyny in a report on Monday, December 8th. They issued an “overweight” rating and a $29.00 price target on the stock. KeyCorp upped their price objective on Progyny from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. Wall Street Zen raised Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.40.

Progyny Stock Up 3.5%

Shares of PGNY stock traded up $0.95 on Thursday, hitting $27.75. The stock had a trading volume of 232,865 shares, compared to its average volume of 1,048,391. Progyny has a one year low of $17.79 and a one year high of $28.49. The business has a 50 day moving average price of $24.70 and a 200 day moving average price of $22.96. The company has a market cap of $2.39 billion, a PE ratio of 44.21, a P/E/G ratio of 1.69 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last issued its 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 company had revenue of $313.35 million for the quarter, compared to analysts’ expectations of $299.23 million. During the same period in the prior year, the business earned $0.11 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. Equities research analysts expect that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling at Progyny

In other news, CFO Mark S. Livingston sold 21,303 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the sale, the chief financial officer owned 48,358 shares in the company, valued at approximately $1,233,129. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Anevski acquired 79,500 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the acquisition, the chief executive officer owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 22,046 shares of company stock worth $561,691. 9.40% of the stock is owned by company insiders.

Institutional Trading of Progyny

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after buying an additional 10,340 shares during the last quarter. Amundi increased its position in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after acquiring an additional 5,817 shares during the period. AQR Capital Management LLC increased its position in shares of Progyny by 1,060.7% in the 1st quarter. AQR Capital Management LLC now owns 332,386 shares of the company’s stock valued at $7,425,000 after acquiring an additional 303,750 shares during the period. Millennium Management LLC raised its stake in Progyny by 7.5% in the 1st quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock worth $29,107,000 after acquiring an additional 90,367 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in Progyny during the 1st quarter worth about $555,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.