Progyny, Inc. (NASDAQ:PGNY) Given Consensus Rating of “Moderate Buy” by Brokerages

Progyny, Inc. (NASDAQ:PGNY) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.50.

Several brokerages have recently weighed in on PGNY. JPMorgan Chase & Co. raised their price objective on Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Wall Street Zen downgraded Progyny from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research report on Monday. KeyCorp upgraded Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Tuesday, November 11th. Finally, Canaccord Genuity Group raised their target price on shares of Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, November 17th.

Progyny Stock Up 1.8%

Shares of PGNY opened at $26.63 on Friday. Progyny has a twelve month low of $13.96 and a twelve month high of $27.51. The stock has a market capitalization of $2.30 billion, a P/E ratio of 42.27, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a 50 day moving average of $23.08 and a 200-day moving average of $22.55.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The business had revenue of $313.35 million during the quarter, compared to analysts’ expectations of $299.23 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. 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, sell-side analysts anticipate that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In related news, CFO Mark S. Livingston sold 21,303 shares of the firm’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 directly owned 48,358 shares in the company, valued at approximately $1,233,129. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Peter Anevski purchased 79,500 shares of Progyny stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the acquisition, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at $16,523,296.79. This trade represents a 13.23% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 22,046 shares of company stock valued at $561,691. Insiders own 9.40% of the company’s stock.

Institutional Trading of Progyny

Hedge funds have recently made changes to their positions in the business. Cetera Trust Company N.A boosted its stake in shares of Progyny by 303.1% during the 2nd quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock worth $29,000 after acquiring an additional 985 shares during the period. Federated Hermes Inc. boosted its position in Progyny by 147.3% during the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock worth $30,000 after purchasing an additional 819 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Progyny during the first quarter worth $44,000. Militia Capital Partners LP increased its holdings in shares of Progyny by 100.0% in the first quarter. Militia Capital Partners LP now owns 2,000 shares of the company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Progyny by 61.8% in the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after purchasing an additional 894 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

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.