Progyny (NASDAQ:PGNY) Stock: Insider David Schlanger Sells 3,400 Shares

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 3,400 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $35.22, for a total value of $119,748.00. Following the completion of the transaction, the chairman directly owned 238,462 shares of the company’s stock, valued at approximately $8,398,631.64. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Price Performance

Shares of Progyny stock opened at $36.43 on Wednesday. The firm has a market capitalization of $2.68 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The company’s fifty day moving average price is $27.87 and its two-hundred day moving average price is $24.70. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $36.45.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. The company had revenue of $341.25 million during the quarter, compared to analysts’ expectations of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 EPS. Analysts predict that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGNY. Leerink Partners upped their price objective on Progyny from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Wall Street Zen upgraded Progyny from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Canaccord Genuity Group set a $35.00 price target on Progyny in a research note on Friday, August 7th. Zacks Research cut Progyny from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Wells Fargo & Company increased their price objective on Progyny from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Progyny has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Key Progyny News

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Progyny’s latest quarter delivered EPS of $0.52, well above the $0.31 consensus estimate, while revenue rose 8.9% year over year to $341.25 million. Recent coverage also points to raised guidance and a breakout above a technical buy point, supporting the bullish view. Article: Fertility treatment leader Progyny breaks out past buy point as earnings surge Article: Progyny stock gets fair value bump
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but maintained a Neutral rating. The reported analyst consensus target of $35.33 is also below the quoted share price, potentially limiting perceived upside at current levels. JPMorgan analyst ratings
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each sold about 161,000 shares on Nov. 9, alongside smaller sales reported for Nov. 5. The larger transactions could weigh on investor sentiment, although the filings say they were made under pre-arranged Rule 10b5-1 plans and both executives retained substantial holdings. CEO SEC filing Chairman SEC filing

Hedge Funds Weigh In On Progyny

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp grew its stake in Progyny by 21.3% during the third quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company’s stock worth $69,000 after buying an additional 480 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Progyny by 14.4% in the third quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock valued at $104,000 after acquiring an additional 520 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Progyny by 4.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the company’s stock valued at $435,000 after acquiring an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Progyny in the second quarter valued at approximately $29,000. Finally, State of Wyoming raised its stake in shares of Progyny by 3.5% in the third quarter. State of Wyoming now owns 29,806 shares of the company’s stock valued at $751,000 after acquiring an additional 1,015 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

About Progyny

Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.