Brokerages Set Progyny, Inc. (NASDAQ:PGNY) PT at $28.40

Progyny, Inc. (NASDAQ:PGNY) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.40.

Several equities analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Progyny from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th.

Progyny Stock Performance

Shares of Progyny stock opened at $24.52 on Wednesday. The company has a market capitalization of $2.11 billion, a PE ratio of 38.92, a P/E/G ratio of 1.54 and a beta of 0.93. The company has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $23.18. Progyny has a one year low of $17.98 and a one year high of $28.75.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results 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 business had revenue of $313.35 million for 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% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. 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, equities analysts predict that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $25.50, for a total transaction of $543,226.50. Following the transaction, the chief financial officer owned 48,358 shares in the company, valued at approximately $1,233,129. This represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Peter Anevski acquired 79,500 shares of the stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the purchase, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 22,046 shares of company stock worth $561,691 in the last 90 days. 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 added to or reduced their stakes in PGNY. Vanguard Group Inc. increased its holdings in shares of Progyny by 2.4% in the third quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company’s stock valued at $217,484,000 after purchasing an additional 235,513 shares during the period. Ameriprise Financial Inc. increased its holdings in Progyny by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after buying an additional 545,431 shares during the period. ArrowMark Colorado Holdings LLC raised its position in Progyny by 2.1% during the 3rd 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 last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Progyny by 10.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company’s stock worth $47,100,000 after buying an additional 177,546 shares during the last quarter. Finally, Barclays PLC lifted its stake in Progyny by 79.2% during 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 period. Institutional investors and hedge funds own 94.93% of the company’s stock.

About Progyny

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.