Progyny, Inc. (NASDAQ:PGNY) Short Interest Down 23.3% in December

Progyny, Inc. (NASDAQ:PGNY) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 4,348,246 shares, a decrease of 23.3% from the December 15th total of 5,672,029 shares. Based on an average daily volume of 1,402,238 shares, the days-to-cover ratio is presently 3.1 days. Approximately 5.6% of the shares of the stock are short sold. Approximately 5.6% of the shares of the stock are short sold. Based on an average daily volume of 1,402,238 shares, the days-to-cover ratio is presently 3.1 days.

Insider Activity

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total transaction of $543,226.50. Following the sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Anevski bought 79,500 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was purchased at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the purchase, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at $16,523,296.79. The trade was a 13.23% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 22,046 shares of company stock worth $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. Cetera Trust Company N.A raised its position in Progyny by 303.1% during the second quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock worth $29,000 after acquiring an additional 985 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Progyny by 147.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after purchasing an additional 819 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Progyny by 61.8% during the 3rd quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after purchasing an additional 894 shares during the last quarter. Covestor Ltd boosted its position in Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after purchasing an additional 1,624 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Progyny in the second quarter valued at $77,000. Institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of recent analyst reports. Barclays began coverage on Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. KeyCorp raised their price objective on shares of Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Truist Financial upgraded shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Progyny Stock Performance

NASDAQ:PGNY traded up $0.21 on Friday, reaching $24.52. The company’s stock had a trading volume of 1,345,594 shares, compared to its average volume of 1,292,344. Progyny has a 1-year low of $17.98 and a 1-year high of $28.75. The business’s 50-day moving average price is $25.69 and its two-hundred day moving average price is $23.19. The firm has a market cap of $2.11 billion, a PE ratio of 38.92, a PEG ratio of 1.55 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The business had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.Progyny’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. 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, sell-side analysts expect that Progyny will post 0.6 EPS for the current year.

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.