Progyny (NASDAQ:PGNY) Hits New 12-Month High Following Insider Buying Activity

Progyny, Inc. (NASDAQ:PGNY)’s share price reached a new 52-week high during trading on Monday following insider buying activity. The company traded as high as $27.22 and last traded at $26.6330, with a volume of 845550 shares. The stock had previously closed at $24.55.

Specifically, CEO Peter Anevski purchased 79,500 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased 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 represents a 13.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Raymond James Financial set a $28.00 price target on shares of Progyny in a report on Friday, August 8th. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Progyny in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Finally, KeyCorp raised Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price target for the company in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.33.

Progyny Stock Performance

The stock’s 50 day moving average is $20.99 and its 200 day moving average is $21.89. The company has a market capitalization of $2.28 billion, a PE ratio of 41.90, a PEG ratio of 1.93 and a beta of 1.29.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data 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. The company had revenue of $313.35 million during the quarter, compared to the consensus estimate of $299.23 million. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. On average, equities research analysts forecast that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in Progyny by 0.7% during the second quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock valued at $1,549,000 after purchasing an additional 457 shares in the last quarter. Leibman Financial Services Inc. raised its position in Progyny by 1.1% in the 2nd quarter. Leibman Financial Services Inc. now owns 45,946 shares of the company’s stock worth $1,011,000 after purchasing an additional 513 shares during the period. Teza Capital Management LLC boosted its stake in shares of Progyny by 5.4% during the second quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after purchasing an additional 516 shares during the period. Aristides Capital LLC increased its holdings in Progyny by 4.6% during the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock worth $257,000 after purchasing an additional 528 shares during the period. Finally, Oxford Asset Management LLP increased its holdings in Progyny by 4.3% during the second quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after buying an additional 531 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.