Progyny (NASDAQ:PGNY) Stock Rating Upgraded by Citizens Jmp

Progyny (NASDAQ:PGNY) was upgraded by investment analysts at Citizens Jmp from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has a $30.00 price target on the stock. Citizens Jmp’s target price suggests a potential upside of 17.88% from the stock’s current price.

Several other brokerages have also commented on PGNY. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research note 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 price target for the company. Canaccord Genuity Group upped their price objective on shares of Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Progyny currently has an average rating of “Moderate Buy” and a consensus target price of $29.36.

Progyny Trading Up 0.3%

Shares of NASDAQ:PGNY opened at $25.45 on Tuesday. The company has a market capitalization of $2.19 billion, a PE ratio of 40.40, a P/E/G ratio of 1.61 and a beta of 0.93. Progyny has a 12-month low of $17.98 and a 12-month high of $28.75. The business’s fifty day simple moving average is $25.77 and its 200-day simple moving average is $23.27.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $313.35 million for the quarter, compared to the consensus estimate of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $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. Research analysts predict that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling

In other news, CFO Mark S. Livingston sold 21,303 shares of the company’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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Peter Anevski purchased 79,500 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought 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 trade represents a 13.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 22,046 shares of company stock worth $561,691 in the last quarter. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Progyny

A number of institutional investors and hedge funds have recently modified their holdings of PGNY. Nordea Investment Management AB boosted its stake in Progyny by 0.6% during the second quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock worth $4,052,000 after buying an additional 1,140 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of Progyny by 715.3% during the 2nd quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock valued at $1,871,000 after acquiring an additional 74,621 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Progyny by 88.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 56,196 shares of the company’s stock valued at $1,236,000 after purchasing an additional 26,310 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Progyny in the second quarter valued at about $327,000. Finally, Nomura Holdings Inc. acquired a new stake in Progyny during the second quarter worth about $9,368,000. 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.