Progyny (NASDAQ:PGNY) Reaches New 12-Month High After Analyst Upgrade
by Jessica Moore · The Cerbat GemProgyny, Inc. (NASDAQ:PGNY – Get Free Report)’s stock price hit a new 52-week high during trading on Thursday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $34.00 price target on the stock. Progyny traded as high as $28.49 and last traded at $27.7490, with a volume of 232865 shares trading hands. The stock had previously closed at $26.80.
Several other analysts also recently issued reports on PGNY. Barclays started coverage on shares of Progyny in a research report on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Canaccord Genuity Group lifted their price target on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.40.
Read Our Latest Research Report on PGNY
Insider Buying and Selling at Progyny
In related news, CEO Peter Anevski acquired 79,500 shares of Progyny stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the purchase, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at $16,523,296.79. The trade was a 13.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders sold 22,046 shares of company stock worth $561,691 over the last ninety days. 9.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Progyny
Several institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings 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 valued at $4,052,000 after buying an additional 1,140 shares during the period. Cresset Asset Management LLC grew its holdings in Progyny by 715.3% during the second quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock worth $1,871,000 after acquiring an additional 74,621 shares during the period. Voya Investment Management LLC raised its position in Progyny by 258.2% in the first quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock worth $4,144,000 after acquiring an additional 133,703 shares in the last quarter. Millennium Management LLC raised its position in Progyny by 7.5% in the first quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock worth $29,107,000 after acquiring an additional 90,367 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Progyny by 243.6% in the 1st 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 last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.
Progyny Trading Up 4.3%
The company’s 50-day moving average price is $24.70 and its two-hundred day moving average price is $22.96. The company has a market cap of $2.41 billion, a P/E ratio of 44.08, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93.
Progyny (NASDAQ:PGNY – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The business had revenue of $313.35 million for 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 business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $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 forecast that Progyny, Inc. will post 0.6 earnings per share for the current year.
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.