Progyny (NASDAQ:PGNY) Price Target Raised to $35.00

Progyny (NASDAQ:PGNY) had its target price increased by JPMorgan Chase & Co. from $30.00 to $35.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently commented on PGNY. Canaccord Genuity Group set a $35.00 price objective on Progyny in a report on Friday, August 7th. Jefferies Financial Group set a $33.00 target price on shares of Progyny in a report on Tuesday, September 8th. Cantor Fitzgerald boosted their price objective on Progyny from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Barclays lowered their price objective on Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Finally, BTIG Research raised their target price on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.33.

Progyny Stock Performance

NASDAQ PGNY opened at $36.50 on Monday. The stock has a market cap of $2.69 billion, a PE ratio of 33.49, a P/E/G ratio of 1.91 and a beta of 0.97. The firm has a 50-day moving average of $28.08 and a 200-day moving average of $24.76. Progyny has a 52-week low of $16.10 and a 52-week high of $36.52.

Progyny (NASDAQ:PGNY) last announced 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. Progyny had a return on equity of 19.82% and a net margin of 6.80%. The business had revenue of $341.25 million during the quarter, compared to the consensus estimate of $340.76 million. During the same period in the prior year, the company earned $0.15 EPS. Progyny’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts predict that Progyny will post 1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark S. Livingston sold 2,139 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $30.00, for a total value of $64,170.00. Following the completion of the sale, the chief financial officer directly owned 70,314 shares in the company, valued at approximately $2,109,420. The trade was a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman David J. Schlanger sold 161,208 shares of Progyny stock in a transaction on Monday, November 9th. The stock was sold at an average price of $35.73, for a total transaction of $5,759,961.84. Following the completion of the transaction, the chairman directly owned 238,462 shares in the company, valued at approximately $8,520,247.26. The trade was a 40.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 357,276 shares of company stock valued at $12,602,622. Company insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Progyny during the second quarter valued at approximately $334,426,000. Bank of America Corp DE increased its holdings in Progyny by 75.3% in the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after acquiring an additional 511,609 shares in the last quarter. William Blair Investment Management LLC raised its stake in Progyny by 10.7% during the 3rd quarter. William Blair Investment Management LLC now owns 645,130 shares of the company’s stock valued at $16,251,000 after purchasing an additional 62,178 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Progyny by 16.4% in the first quarter. Principal Financial Group Inc. now owns 554,916 shares of the company’s stock worth $9,422,000 after purchasing an additional 78,198 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of Progyny in the 2nd quarter valued at about $15,243,000. 94.93% of the stock is currently owned by institutional investors.

Trending Headlines about Progyny

Investors following PGNY have been watching these headlines:

• Positive Sentiment: Progyny reported quarterly adjusted earnings of $0.52 per share, above the $0.31 consensus estimate, and revenue of $341.25 million, slightly ahead of expectations and up 8.9% year over year. Strong results and raised guidance have also prompted a fair-value increase. Article: Progyny fair value bump after results and raised guidance
• Positive Sentiment: The company added 1.3 million covered lives for the 2027 plan year and achieved a nearly 100% pharmacy attach rate with new clients, pointing to potential expansion of its customer base and pharmacy business. Article: Progyny: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: JPMorgan raised its price target on PGNY, adding an analyst endorsement amid the company’s recent results. Article: Progyny stock gets price target bump from JPMorgan

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.