Progyny (NASDAQ:PGNY) Hits New 52-Week High – Here’s What Happened

Shares of Progyny, Inc. (NASDAQ:PGNY) reached a new 52-week high on Monday . The company traded as high as $27.76 and last traded at $27.4720, with a volume of 434039 shares traded. The stock had previously closed at $26.63.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PGNY. Wall Street Zen lowered shares of Progyny from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research report on Monday, December 15th. Barclays began coverage on Progyny in a report on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Canaccord Genuity Group increased their target price on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Finally, KeyCorp upgraded Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research report on Tuesday, November 11th. One 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. Based on data from MarketBeat, Progyny has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Progyny Stock Up 2.0%

The firm’s 50 day simple moving average is $23.08 and its 200 day simple moving average is $22.56. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The business had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. Analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark S. Livingston sold 21,303 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total value 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 $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Anevski bought 79,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the transaction, the chief executive officer directly owned 680,251 shares in the company, valued at $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 22,046 shares of company stock valued at $561,691 in the last ninety days. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Progyny by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock worth $1,549,000 after buying an additional 457 shares in the last quarter. Leibman Financial Services Inc. grew its holdings in Progyny by 1.1% during the second quarter. Leibman Financial Services Inc. now owns 45,946 shares of the company’s stock worth $1,011,000 after acquiring an additional 513 shares during the period. Teza Capital Management LLC raised its position in Progyny by 5.4% in the second quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock worth $221,000 after acquiring an additional 516 shares in the last quarter. Aristides Capital LLC lifted its holdings in Progyny by 4.6% in the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock valued at $257,000 after acquiring an additional 528 shares during the last quarter. Finally, Oxford Asset Management LLP lifted its holdings in Progyny by 4.3% in the 2nd quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after acquiring an additional 531 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

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.