Progyny (NASDAQ:PGNY) Shares Down 5.9% – Time to Sell?

Progyny, Inc. (NASDAQ:PGNY) shares traded down 5.9% during mid-day trading on Tuesday . The stock traded as low as $27.12 and last traded at $26.7480. 597,799 shares changed hands during trading, a decline of 53% from the average session volume of 1,270,162 shares. The stock had previously closed at $28.42.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PGNY shares. Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Thursday, January 8th. KeyCorp upped their price objective on shares of Progyny from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Barclays began coverage on Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Progyny currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Progyny Stock Performance

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 40.06, a P/E/G ratio of 1.71 and a beta of 0.93. The firm has a fifty day simple moving average of $25.24 and a 200-day simple moving average of $23.11.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.39 by $0.06. The business had revenue of $313.35 million for the quarter, compared to the consensus estimate of $299.23 million. Progyny had a net margin of 4.46% and a return on equity of 10.71%. Progyny’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. Analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, CEO Peter Anevski bought 79,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the purchase, the chief executive officer directly 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. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark S. Livingston sold 21,303 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 22,046 shares of company stock valued at $561,691. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several hedge funds have recently bought and sold shares of the company. Cetera Trust Company N.A raised its holdings in shares of 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 buying an additional 985 shares in the last quarter. Federated Hermes Inc. increased its position in Progyny by 147.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after purchasing an additional 819 shares during the period. Versant Capital Management Inc lifted its holdings in Progyny by 61.8% in the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after buying an additional 894 shares during the period. Covestor Ltd lifted its stake in shares of Progyny by 164.9% in the 3rd 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. Finally, Quarry LP grew its position in shares of Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock worth $77,000 after buying an additional 3,427 shares during the period. Hedge funds and other institutional investors 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.