Progyny (NASDAQ:PGNY) Upgraded at Zacks Research

Progyny (NASDAQ:PGNY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also weighed in on PGNY. Canaccord Genuity Group raised their price objective on Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, November 17th. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. lifted their price objective on Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. KeyCorp raised Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.50.

Progyny Price Performance

Progyny stock opened at $25.74 on Thursday. Progyny has a 1 year low of $17.01 and a 1 year high of $27.76. The firm’s 50 day moving average price is $24.26 and its 200-day moving average price is $22.84. The stock has a market cap of $2.22 billion, a P/E ratio of 40.86, a PEG ratio of 1.62 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last issued its earnings results 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 firm had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. Progyny had a net margin of 4.46% and a return on equity of 10.71%. Progyny’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. 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, equities analysts expect that Progyny will post 0.6 EPS for the current year.

Insider Activity at Progyny

In other news, CFO Mark S. Livingston sold 21,303 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at $1,233,129. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter Anevski bought 79,500 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was bought 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 owned 680,251 shares in the company, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 22,046 shares of company stock valued at $561,691 over the last ninety days. Corporate insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB boosted 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 purchasing an additional 1,140 shares during the period. Cresset Asset Management LLC increased its holdings in Progyny by 715.3% during the 2nd quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock worth $1,871,000 after purchasing an additional 74,621 shares during the period. Voya Investment Management LLC raised its position in Progyny by 258.2% during the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock valued at $4,144,000 after purchasing an additional 133,703 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Progyny by 7.5% in the 1st 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 period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Progyny by 243.6% in the 1st quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock worth $4,589,000 after buying an additional 145,802 shares during the period. Institutional investors own 94.93% of the company’s stock.

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.