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

Shares of Progyny, Inc. (NASDAQ:PGNY) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.3333.

Several research analysts recently issued reports on PGNY shares. Canaccord Genuity Group raised their target price on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, November 17th. KeyCorp raised Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price target for the company in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price objective on Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 target price (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Finally, Raymond James Financial set a $28.00 target price on shares of Progyny in a research report on Friday, August 8th.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $26.33 on Tuesday. The company has a 50 day simple moving average of $21.37 and a 200 day simple moving average of $22.00. Progyny has a 1 year low of $13.86 and a 1 year high of $27.25. The firm has a market cap of $2.27 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 2.04 and a beta of 1.29.

Progyny (NASDAQ:PGNY) last announced 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 during 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 company’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, research analysts anticipate that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, CEO Peter Anevski purchased 79,500 shares of the firm’s stock in a transaction 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 acquisition, the chief executive officer owned 680,251 shares in the company, valued at approximately $16,523,296.79. The trade was a 13.23% increase in their position. The acquisition 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 Progyny stock in a transaction dated 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 transaction, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,698 shares of company stock worth $667,437 over the last three months. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Progyny

Several large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its stake in Progyny by 0.6% in the second quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock valued at $4,052,000 after buying an additional 1,140 shares during the period. Voya Investment Management LLC grew its position in shares of Progyny by 258.2% during the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock worth $4,144,000 after buying an additional 133,703 shares during the period. Millennium Management LLC increased its stake in shares of Progyny by 7.5% in the 1st quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock valued at $29,107,000 after acquiring an additional 90,367 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Progyny by 243.6% during the first quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock worth $4,589,000 after acquiring an additional 145,802 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Progyny by 88.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 56,196 shares of the company’s stock worth $1,236,000 after acquiring an additional 26,310 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.