Progyny (NASDAQ:PGNY) Upgraded at Zacks Research

Zacks Research upgraded shares of Progyny (NASDAQ:PGNY) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

PGNY has been the subject of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. KeyCorp raised shares of Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Tuesday, November 11th. Barclays began coverage on shares of 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 raised their target price on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Progyny Stock Performance

NASDAQ:PGNY opened at $25.74 on Thursday. The stock’s fifty day moving average price is $24.26 and its two-hundred day moving average price is $22.85. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 1.63 and a beta of 0.93. Progyny has a 52-week low of $17.01 and a 52-week high of $27.76.

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

Insider Buying and Selling at Progyny

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $25.50, for a total value of $543,226.50. Following the transaction, the chief financial officer owned 48,358 shares in the company, valued at $1,233,129. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Anevski bought 79,500 shares of the stock in a transaction on Thursday, November 13th. The shares were acquired at an average cost of $24.29 per share, with a total value of $1,931,055.00. Following the purchase, the chief executive officer owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This represents a 13.23% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 22,046 shares of company stock worth $561,691. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. Royal Bank of Canada increased its stake in Progyny by 384.8% during the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after acquiring an additional 10,340 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Progyny in the 1st quarter valued at approximately $236,000. Amundi boosted its holdings in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after purchasing an additional 5,817 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Progyny by 1,060.7% in the 1st quarter. AQR Capital Management LLC now owns 332,386 shares of the company’s stock worth $7,425,000 after purchasing an additional 303,750 shares during the period. Finally, Millennium Management LLC increased its position in shares of Progyny by 7.5% during the 1st quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock valued at $29,107,000 after purchasing an additional 90,367 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.