Progyny (NASDAQ:PGNY) Downgraded by Wall Street Zen to “Hold”

Progyny (NASDAQ:PGNY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Canaccord Genuity Group boosted their price objective on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Barclays initiated coverage on shares of Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research report on Monday. Finally, KeyCorp raised shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Progyny currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Progyny Price Performance

NASDAQ PGNY opened at $26.63 on Friday. The company’s 50 day simple moving average is $23.08 and its two-hundred day simple moving average is $22.55. Progyny has a 1 year low of $13.96 and a 1 year high of $27.51. The stock has a market capitalization of $2.30 billion, a PE ratio of 42.27, a P/E/G ratio of 2.06 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The firm had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. During the same period in the previous year, the business earned $0.11 EPS. The business’s revenue for the quarter 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. On average, research analysts anticipate that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling

In other Progyny news, CEO Peter Anevski purchased 79,500 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the purchase, the chief executive officer 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $543,226.50. Following the completion of the sale, the chief financial officer owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. The trade was a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,046 shares of company stock valued at $561,691 in the last 90 days. 9.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progyny

A number of large investors have recently added to or reduced their stakes in PGNY. Vanguard Group Inc. lifted its stake in Progyny by 2.4% in the third 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. grew its stake 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 valued at $43,933,000 after buying an additional 545,431 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Progyny by 2.1% in the third 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 during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Progyny by 33.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock valued at $35,649,000 after acquiring an additional 412,395 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Progyny by 79.2% in 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 during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.