Progyny, Inc. (NASDAQ:PGNY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.40.

A number of analysts recently commented on the company. Canaccord Genuity Group upped their price target on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Weiss Ratings restated a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Barclays began coverage on Progyny in a report on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Zacks Research upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Truist Financial upgraded shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, January 8th.

Insider Activity

In related news, CEO Peter Anevski purchased 79,500 shares of the business’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 purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of the business’s 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 sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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

Several large investors have recently bought and sold shares of PGNY. Cetera Trust Company N.A boosted its holdings in Progyny by 303.1% during the 2nd 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 during the last quarter. Federated Hermes Inc. lifted its position in shares of Progyny by 147.3% during the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after purchasing an additional 819 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after purchasing an additional 894 shares during the last quarter. Covestor Ltd grew its position in Progyny by 164.9% in the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after purchasing an additional 1,624 shares in the last quarter. Finally, Quarry LP increased its stake in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after buying an additional 3,427 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Up 0.9%

Shares of PGNY stock opened at $24.52 on Wednesday. The firm has a 50 day moving average of $25.69 and a 200-day moving average of $23.20. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. Progyny has a 52 week low of $17.98 and a 52 week high of $28.75.

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 business had revenue of $313.35 million for the quarter, compared to analyst estimates of $299.23 million. During the same period in the prior year, the firm earned $0.11 earnings per share. Progyny’s 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. Analysts anticipate that Progyny will post 0.6 earnings per share for the current year.

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.