Progyny (NASDAQ:PGNY) Reaches New 12-Month High – What’s Next?

Progyny, Inc. (NASDAQ:PGNY) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.75 and last traded at $25.24, with a volume of 2557660 shares traded. The stock had previously closed at $28.42.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PGNY. KeyCorp boosted their price objective on shares of Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. 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. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Finally, Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.40.

Progyny Price Performance

The stock has a market capitalization of $2.18 billion, a P/E ratio of 40.06, a PEG ratio of 1.80 and a beta of 0.93. The stock’s fifty day moving average price is $25.38 and its 200 day moving average price is $23.14.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The company 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 firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company 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. On average, sell-side analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Progyny

In other news, CFO Mark S. Livingston sold 21,303 shares of the 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 owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Anevski purchased 79,500 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the purchase, the chief executive officer owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 22,046 shares of company stock worth $561,691 over the last 90 days. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Progyny

A number of hedge funds have recently added to or reduced their stakes in the business. Cetera Trust Company N.A increased its position in Progyny by 303.1% during the 2nd quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares during the period. Federated Hermes Inc. boosted its stake in shares of Progyny by 147.3% during the third 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 holdings in Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after buying an additional 894 shares during the period. Covestor Ltd increased its holdings in Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock valued at $56,000 after buying an additional 1,624 shares during the period. Finally, Quarry LP raised its stake in Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company’s stock worth $77,000 after buying an additional 3,427 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other 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.