Canaccord Genuity Group Forecasts Strong Price Appreciation for Progyny (NASDAQ:PGNY) Stock

Progyny (NASDAQ:PGNY) had its price objective raised by investment analysts at Canaccord Genuity Group from $23.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 0.58% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. KeyCorp upgraded shares of Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Tuesday, November 11th. Raymond James Financial set a $28.00 target price on shares of Progyny in a report on Friday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target (up previously from $26.00) on shares of Progyny in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Progyny in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. One equities 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.33.

Progyny Stock Performance

Shares of PGNY opened at $25.85 on Monday. Progyny has a 52 week low of $13.50 and a 52 week high of $27.25. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 2.11 and a beta of 1.29. The stock has a fifty day moving average of $21.13 and a 200-day moving average of $21.94.

Progyny (NASDAQ:PGNY) last issued 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 business 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, equities analysts forecast that Progyny will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Peter Anevski acquired 79,500 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price 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 of the company’s stock, valued at $16,523,296.79. The trade was a 13.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison Swartz sold 2,398 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the transaction, the executive vice president owned 79,697 shares in the company, valued at $1,829,843.12. This represents a 2.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 5,395 shares of company stock worth $124,211. Insiders own 9.40% of the company’s stock.

Institutional Trading of Progyny

A number of hedge funds and other institutional investors have recently bought and sold shares of PGNY. Cerity Partners LLC lifted its stake in shares of Progyny by 116.9% in the first quarter. Cerity Partners LLC now owns 28,881 shares of the company’s stock valued at $645,000 after buying an additional 15,563 shares in the last quarter. CWM LLC raised its holdings in shares of Progyny by 268.8% in the 1st quarter. CWM LLC now owns 23,479 shares of the company’s stock worth $525,000 after acquiring an additional 17,112 shares during the last quarter. Guidance Capital Inc. lifted its position in Progyny by 13.7% in the 1st quarter. Guidance Capital Inc. now owns 25,018 shares of the company’s stock valued at $581,000 after acquiring an additional 3,017 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Progyny in the 1st quarter valued at about $668,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Progyny during the 1st quarter valued at about $1,946,000. Institutional investors own 94.93% of the company’s stock.

About Progyny

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.