Progyny (NASDAQ:PGNY) Sets New 1-Year High – Time to Buy?

Progyny, Inc. (NASDAQ:PGNY)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $28.75 and last traded at $25.24, with a volume of 2557660 shares traded. The stock had previously closed at $28.42.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial raised shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, January 8th. Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Canaccord Genuity Group upped their price objective on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Barclays started coverage on Progyny in a research report on Monday, December 8th. They set an “overweight” rating and a $29.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.40.

Progyny Stock Performance

The company has a market cap of $2.10 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. The company has a fifty day moving average of $25.65 and a two-hundred day moving average of $23.17.

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

Insider Activity

In other Progyny news, CEO Peter Anevski bought 79,500 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,046 shares of company stock valued at $561,691. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Progyny

A number of large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of Progyny by 0.7% during the second quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock worth $1,549,000 after purchasing an additional 457 shares in the last quarter. Teza Capital Management LLC increased its position in Progyny by 5.4% during the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after buying an additional 516 shares in the last quarter. Leibman Financial Services Inc. increased its position in Progyny by 1.2% during the 4th quarter. Leibman Financial Services Inc. now owns 46,435 shares of the company’s stock valued at $1,192,000 after buying an additional 528 shares in the last quarter. Aristides Capital LLC raised its stake in Progyny by 4.6% in the third quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock valued at $257,000 after buying an additional 528 shares during the last quarter. Finally, Oxford Asset Management LLP boosted its holdings in Progyny by 4.3% in the second quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock worth $284,000 after acquiring an additional 531 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

About Progyny

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.