Progyny (NASDAQ:PGNY) Stock: Insider David Schlanger Sells 161,208 Shares

Progyny, Inc. (NASDAQ:PGNY) Chairman David Schlanger sold 161,208 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.73, for a total value of $5,759,961.84. Following the completion of the sale, the chairman directly owned 238,462 shares in the company, valued at approximately $8,520,247.26. This represents a 40.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progyny Stock Up 1.3%

NASDAQ PGNY opened at $36.43 on Wednesday. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $36.45. The business’s fifty day moving average is $27.87 and its 200 day moving average is $24.70.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.21. The company had revenue of $341.25 million for 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%. Progyny’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, research analysts anticipate that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

More 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

A number of institutional investors have recently modified their holdings of the company. Toth Financial Advisory Corp lifted its stake in shares of Progyny by 21.3% in the third quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company’s stock valued at $69,000 after buying an additional 480 shares in the last quarter. Hantz Financial Services Inc. raised its position in Progyny by 14.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company’s stock valued at $104,000 after buying an additional 520 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Progyny by 4.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the company’s stock valued at $435,000 after buying an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Progyny during the 2nd quarter valued at $29,000. Finally, State of Wyoming lifted its stake in Progyny by 3.5% during the 3rd 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 in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGNY has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Progyny from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Cantor Fitzgerald upped their target price on Progyny from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Jefferies Financial Group set a $33.00 price target on Progyny in a report on Tuesday, September 8th. Zacks Research downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Progyny from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.33.

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.