Progyny (NASDAQ:PGNY) Reaches New 12-Month High – Should You Buy?

Progyny, Inc. (NASDAQ:PGNY) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.76 and last traded at $27.4720, with a volume of 434039 shares traded. The stock had previously closed at $26.63.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Canaccord Genuity Group increased their target price on shares of Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, November 17th. KeyCorp raised Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price target on Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research note on Monday, December 15th. Finally, Wall Street Zen downgraded shares of Progyny from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Progyny has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Progyny Price Performance

The firm has a market capitalization of $2.34 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.97. The company has a fifty day moving average of $23.08 and a 200-day moving average of $22.56.

Progyny (NASDAQ:PGNY) last announced its quarterly 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 business had revenue of $313.35 million during the quarter, compared to analysts’ expectations of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Equities analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Progyny

In related news, CEO Peter Anevski bought 79,500 shares of Progyny stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the acquisition, the chief executive officer owned 680,251 shares in the company, valued at $16,523,296.79. This trade represents a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,046 shares of company stock valued at $561,691 in the last ninety days. Insiders own 9.40% of the company’s stock.

Institutional Trading of Progyny

Large investors have recently modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Progyny by 0.6% in the second quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock worth $4,052,000 after purchasing an additional 1,140 shares during the period. Cresset Asset Management LLC grew its holdings in Progyny by 715.3% in the 2nd quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock valued at $1,871,000 after buying an additional 74,621 shares during the last quarter. Voya Investment Management LLC increased its position in Progyny by 258.2% in the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock worth $4,144,000 after buying an additional 133,703 shares during the period. Millennium Management LLC lifted its holdings in shares of Progyny by 7.5% during the first quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock worth $29,107,000 after buying an additional 90,367 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Progyny by 243.6% in the first quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock valued at $4,589,000 after acquiring an additional 145,802 shares during the period. 94.93% of the stock is 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.