Progyny, Inc. (NASDAQ:PGNY) Sees Significant Growth in Short Interest

Progyny, Inc. (NASDAQ:PGNY) saw a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 5,150,473 shares, a growth of 28.3% from the February 12th total of 4,015,675 shares. Approximately 6.9% of the shares of the stock are sold short. Based on an average daily volume of 1,654,500 shares, the short-interest ratio is currently 3.1 days. Based on an average daily volume of 1,654,500 shares, the short-interest ratio is currently 3.1 days. Approximately 6.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

PGNY has been the topic of a number of research analyst reports. Truist Financial decreased their price objective on shares of Progyny from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. BTIG Research reduced their target price on shares of Progyny from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Citizens Jmp raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 20th. JPMorgan Chase & Co. set a $35.00 price target on shares of Progyny in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.45.

Progyny Price Performance

NASDAQ PGNY remained flat at $17.50 during trading hours on Friday. 1,489,373 shares of the company traded hands, compared to its average volume of 1,784,694. Progyny has a fifty-two week low of $16.75 and a fifty-two week high of $28.75. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 1.17 and a beta of 1.01. The stock has a fifty day moving average of $22.30 and a two-hundred day moving average of $22.74.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, February 26th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The firm had revenue of $318.40 million during the quarter, compared to analyst estimates of $314.26 million. Progyny had a net margin of 4.54% and a return on equity of 11.37%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Progyny has set its FY 2026 guidance at 1.830-1.950 EPS and its Q1 2026 guidance at 0.420-0.450 EPS. As a group, sell-side analysts anticipate that Progyny will post 0.6 EPS for the current year.

Insider Activity at Progyny

In other news, EVP Allison Swartz sold 4,657 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.40, for a total value of $81,031.80. Following the completion of the sale, the executive vice president directly owned 89,879 shares in the company, valued at approximately $1,563,894.60. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 7,455 shares of company stock worth $129,515 in the last quarter. 9.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Progyny during the 4th quarter worth about $25,000. Federated Hermes Inc. raised its position in shares of Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after acquiring an additional 819 shares during the period. Hantz Financial Services Inc. boosted its stake in Progyny by 79.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after acquiring an additional 742 shares during the last quarter. Versant Capital Management Inc boosted 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 acquiring an additional 894 shares during the last quarter. Finally, Covestor Ltd grew 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 purchasing an additional 1,624 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.