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

Progyny, Inc. (NASDAQ:PGNY) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $28.5455.

Several research firms have recently issued reports on PGNY. Barclays began coverage on Progyny in a report on Monday, December 8th. They set an “overweight” rating and a $29.00 target price on the stock. JPMorgan Chase & Co. upped their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Citigroup upgraded shares of Progyny to an “outperform” rating in a research report on Tuesday. Finally, Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Tuesday.

Progyny Stock Performance

NASDAQ:PGNY opened at $25.38 on Wednesday. Progyny has a 52 week low of $17.98 and a 52 week high of $28.75. The firm’s 50-day simple moving average is $25.74 and its 200 day simple moving average is $23.25. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 40.29, a P/E/G ratio of 1.55 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $299.23 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. Sell-side analysts anticipate that Progyny will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction on 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 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 this hyperlink. Also, CEO Peter Anevski purchased 79,500 shares of the stock in a transaction dated 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 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 position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 22,046 shares of company stock worth $561,691. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Progyny

Hedge funds have recently made changes to their positions in the company. Cetera Trust Company N.A increased its stake in shares of Progyny by 303.1% in the second quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock valued at $29,000 after buying an additional 985 shares during the period. Federated Hermes Inc. grew its holdings in Progyny by 147.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock worth $30,000 after acquiring an additional 819 shares during the last quarter. Versant Capital Management Inc increased its position in Progyny by 61.8% in the 3rd quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after acquiring an additional 894 shares during the period. Covestor Ltd raised its stake in shares of Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock valued at $56,000 after acquiring an additional 1,624 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Progyny during the second quarter worth $77,000. 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.