Progyny (NASDAQ:PGNY) Raised to “Market Outperform” at Citizens Jmp

Progyny (NASDAQ:PGNY) was upgraded by analysts at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a $30.00 price objective on the stock. Citizens Jmp’s target price would indicate a potential upside of 22.35% from the company’s previous close.

A number of other research firms also recently commented on PGNY. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research note on Monday, December 29th. KeyCorp increased their target price on Progyny from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Truist Financial upgraded Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, January 8th. Citigroup raised Progyny to an “outperform” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.55.

Progyny Trading Up 0.9%

PGNY stock opened at $24.52 on Tuesday. Progyny has a twelve month low of $17.98 and a twelve month high of $28.75. The company has a market capitalization of $2.11 billion, a P/E ratio of 38.92, a PEG ratio of 1.55 and a beta of 0.93. The firm has a 50 day simple moving average of $25.71 and a 200-day simple moving average of $23.23.

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, beating the consensus estimate of $0.39 by $0.06. The firm 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 firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company 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, research analysts predict that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, CEO Peter Anevski acquired 79,500 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the purchase, the chief executive officer directly owned 680,251 shares in the company, valued at $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $543,226.50. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,046 shares of company stock valued at $561,691 in the last 90 days. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PGNY. Vanguard Group Inc. grew its position in Progyny by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company’s stock worth $217,484,000 after purchasing an additional 235,513 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Progyny by 37.6% during the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after buying an additional 545,431 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in Progyny by 2.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,931,249 shares of the company’s stock worth $41,560,000 after buying an additional 39,666 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Progyny by 10.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company’s stock valued at $47,100,000 after acquiring an additional 177,546 shares during the period. Finally, Barclays PLC raised its stake in Progyny by 79.2% during the 3rd quarter. Barclays PLC now owns 1,575,470 shares of the company’s stock valued at $33,904,000 after acquiring an additional 696,447 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

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.