Progyny, Inc. (NASDAQ:PGNY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $28.40.

Several research analysts recently issued reports on PGNY shares. JPMorgan Chase & Co. increased their price target on shares of Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Thursday, January 8th. Wall Street Zen raised Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research report on Monday, December 29th. Finally, Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st.

Insider Activity

In other news, CFO Mark S. Livingston sold 21,303 shares of the firm’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 completion of the sale, the chief financial officer owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter Anevski bought 79,500 shares of Progyny stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 22,046 shares of company stock valued at $561,691 over the last three months. 9.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Progyny by 10.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company’s stock worth $47,100,000 after purchasing an additional 177,546 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in Progyny during the 4th quarter valued at about $292,000. Occidental Asset Management LLC bought a new position in Progyny in the fourth quarter valued at approximately $241,000. Central Pacific Bank Trust Division grew its holdings in Progyny by 15.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 12,710 shares of the company’s stock worth $326,000 after acquiring an additional 1,700 shares during the period. Finally, Leibman Financial Services Inc. raised its position in shares of Progyny by 1.2% during the 4th quarter. Leibman Financial Services Inc. now owns 46,435 shares of the company’s stock valued at $1,192,000 after acquiring an additional 528 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Trading Down 11.2%

Shares of NASDAQ PGNY opened at $25.24 on Wednesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 1.80 and a beta of 0.93. Progyny has a one year low of $17.98 and a one year high of $28.75. The business has a fifty day simple moving average of $25.38 and a 200 day simple moving average of $23.14.

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

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.