Progyny (NASDAQ:PGNY) Upgraded by Citizens Jmp to “Market Outperform” Rating

Progyny (NASDAQ:PGNY) was upgraded by investment analysts at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a research report issued on Tuesday,Benzinga reports. The firm currently has a $30.00 price target on the stock. Citizens Jmp’s price objective would suggest a potential upside of 22.35% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Citigroup upgraded Progyny to an “outperform” rating in a research report on Tuesday. Truist Financial upgraded shares of 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. Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their target price 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. Finally, Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Progyny presently has an average rating of “Moderate Buy” and an average target price of $28.55.

Progyny Trading Up 0.9%

Shares of PGNY opened at $24.52 on Tuesday. Progyny has a 12-month low of $17.98 and a 12-month high of $28.75. The stock has a market cap of $2.11 billion, a P/E ratio of 38.92, a PEG ratio of 1.55 and a beta of 0.93. The company has a 50-day moving average of $25.71 and a two-hundred day moving average of $23.23.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 4.46% and a return on equity of 10.71%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company 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. As a group, analysts forecast that Progyny will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Anevski purchased 79,500 shares of the 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 approximately $16,523,296.79. This trade represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark S. Livingston sold 21,303 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,046 shares of company stock worth $561,691. 9.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Trust Company N.A grew its position in 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 acquiring an additional 985 shares in the last quarter. 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 valued at $30,000 after purchasing an additional 819 shares in the last quarter. Versant Capital Management Inc increased its stake in Progyny by 61.8% during the 3rd quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after buying an additional 894 shares during the period. Covestor Ltd lifted its holdings in Progyny by 164.9% in the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after buying an additional 1,624 shares in the last quarter. Finally, Quarry LP boosted its position in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after buying an additional 3,427 shares during the last quarter. 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.