Progyny (NASDAQ:PGNY) Chairman Sells $5,759,961.84 in Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 161,208 shares of Progyny stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.73, for a total transaction of $5,759,961.84. Following the completion of the sale, the chairman directly owned 238,462 shares of the company’s stock, valued at approximately $8,520,247.26. The trade was a 40.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Trading Up 0.2%

Shares of NASDAQ:PGNY opened at $36.50 on Thursday. The stock has a market capitalization of $2.69 billion, a PE ratio of 33.49, a P/E/G ratio of 1.91 and a beta of 0.97. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $36.52. The firm has a fifty day moving average price of $28.08 and a 200 day moving average price of $24.76.

Progyny (NASDAQ:PGNY) last posted its earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.21. Progyny had a return on equity of 19.82% and a net margin of 6.80%. The company had revenue of $341.25 million for the quarter, compared to analyst estimates of $340.76 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PGNY shares. Truist Financial raised their price objective on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. upped their target price on Progyny from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday. BTIG Research increased their price target on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Leerink Partners lifted their price target on shares of Progyny from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Progyny from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Progyny has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Recent Progyny Headlines

Investors following PGNY have been watching these headlines:

• Positive Sentiment: Progyny reported quarterly adjusted earnings of $0.52 per share, above the $0.31 consensus estimate, and revenue of $341.25 million, slightly ahead of expectations and up 8.9% year over year. Strong results and raised guidance have also prompted a fair-value increase. Article: Progyny fair value bump after results and raised guidance
• Positive Sentiment: The company added 1.3 million covered lives for the 2027 plan year and achieved a nearly 100% pharmacy attach rate with new clients, pointing to potential expansion of its customer base and pharmacy business. Article: Progyny: 3 Key Takeaways for Long-Term Investors
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger reported sizable share sales on Nov. 9. The sales were made under pre-arranged Rule 10b5-1 plans, which may temper—but do not eliminate—concerns about insider selling. Article: CEO Peter Anevski sells shares Article: Chairman David Schlanger sells shares

Institutional Investors Weigh In On Progyny

A number of hedge funds have recently bought and sold shares of the company. Toth Financial Advisory Corp grew its position in shares of Progyny by 21.3% in the third quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company’s stock valued at $69,000 after purchasing an additional 480 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Progyny by 14.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock worth $104,000 after purchasing an additional 520 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Progyny by 4.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the company’s stock worth $435,000 after purchasing an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Progyny during the 2nd quarter valued at approximately $29,000. Finally, State of Wyoming boosted its stake in Progyny by 3.5% during the 3rd quarter. State of Wyoming now owns 29,806 shares of the company’s stock valued at $751,000 after purchasing an additional 1,015 shares during the period. 94.93% of the stock is currently owned by institutional investors.

About Progyny

Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.