Progyny (NASDAQ:PGNY) Rating Increased to Outperform at Citizens Jmp

Citizens Jmp upgraded shares of Progyny (NASDAQ:PGNY) from a market perform rating to an outperform rating in a report issued on Tuesday morning, MarketBeat reports. They currently have $30.00 price target on the stock.

Several other research firms have also recently commented on PGNY. Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, January 8th. Canaccord Genuity Group upped their target price on Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, November 17th. Barclays started coverage on Progyny in a research report on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price for the company. KeyCorp boosted their price target on shares of Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.55.

Progyny Trading Up 3.5%

Shares of Progyny stock opened at $25.38 on Tuesday. Progyny has a 1 year low of $17.98 and a 1 year high of $28.75. The company’s fifty day simple moving average is $25.74 and its 200-day simple moving average is $23.25. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 1.55 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last issued 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. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The firm had revenue of $313.35 million during the quarter, compared to the consensus estimate of $299.23 million. During the same period in the prior year, the firm earned $0.11 EPS. The business’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. As a group, research analysts forecast that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total transaction of $543,226.50. Following the sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Anevski acquired 79,500 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $24.29 per share, with a total value of $1,931,055.00. Following the acquisition, 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 ninety days, insiders sold 22,046 shares of company stock worth $561,691. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Progyny

A number of large investors have recently bought and sold shares of the business. Barclays PLC raised its position in Progyny by 79.2% in the 3rd quarter. Barclays PLC now owns 1,575,470 shares of the company’s stock valued at $33,904,000 after purchasing an additional 696,447 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after buying an additional 545,431 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Progyny in the second quarter valued at about $10,525,000. Nomura Holdings Inc. bought a new position in shares of Progyny in the second quarter valued at about $9,368,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Progyny by 33.1% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock worth $35,649,000 after buying an additional 412,395 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

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.