Progyny (NASDAQ:PGNY) Hits New 12-Month High Following Insider Buying Activity

Progyny, Inc. (NASDAQ:PGNY)’s stock price hit a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as $27.22 and last traded at $26.6330, with a volume of 845550 shares changing hands. The stock had previously closed at $24.55.

Specifically, CEO Peter Anevski bought 79,500 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the transaction, the chief executive officer directly owned 680,251 shares in the company, valued at approximately $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 the SEC website.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PGNY shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Progyny in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Raymond James Financial set a $28.00 price objective on shares of Progyny in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Canaccord Genuity Group lifted their price objective on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.33.

Progyny Stock Up 7.9%

The stock has a fifty day moving average of $20.99 and a 200-day moving average of $21.89. The stock has a market cap of $2.28 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.29.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The firm had revenue of $313.35 million for the quarter, compared to analyst estimates of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.Progyny’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter 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. Q4 2025 guidance at 0.370-0.400 EPS. Equities research analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently made changes to their positions in the business. Gotham Asset Management LLC boosted its stake in shares of Progyny by 6.5% during the 3rd quarter. Gotham Asset Management LLC now owns 55,226 shares of the company’s stock valued at $1,188,000 after buying an additional 3,362 shares during the last quarter. Bank of America Corp DE grew its position in Progyny by 15.6% in the 3rd quarter. Bank of America Corp DE now owns 790,749 shares of the company’s stock valued at $17,017,000 after buying an additional 106,616 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Progyny by 2.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,931,249 shares of the company’s stock valued at $41,560,000 after purchasing an additional 39,666 shares during the period. Algert Global LLC lifted its stake in Progyny by 35.1% during the third quarter. Algert Global LLC now owns 595,805 shares of the company’s stock valued at $12,822,000 after purchasing an additional 154,930 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Progyny by 0.8% during the third quarter. Alliancebernstein L.P. now owns 96,620 shares of the company’s stock valued at $2,079,000 after purchasing an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Company Profile

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.