Progyny (NASDAQ:PGNY) Upgraded at Truist Financial

Truist Financial upgraded shares of Progyny (NASDAQ:PGNY) from a hold rating to a buy rating in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $34.00 price target on the stock.

A number of other brokerages have also recently commented on PGNY. JPMorgan Chase & Co. upped their price target on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. KeyCorp lifted their target price on Progyny from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Finally, Barclays initiated coverage on shares of Progyny in a report on Monday, December 8th. They set an “overweight” rating and a $29.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.40.

Progyny Price Performance

Progyny stock opened at $26.99 on Thursday. The stock’s 50 day moving average is $25.04 and its 200 day moving average is $23.05. Progyny has a one year low of $17.79 and a one year high of $28.49. The firm has a market cap of $2.33 billion, a P/E ratio of 42.84, a P/E/G ratio of 1.71 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. The business had revenue of $313.35 million during 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%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. Equities analysts anticipate that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, CEO Peter Anevski bought 79,500 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the acquisition, the chief executive officer directly owned 680,251 shares in the company, 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 can be accessed through this hyperlink. 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 transaction of $543,226.50. Following the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at $1,233,129. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 22,046 shares of company stock worth $561,691. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently added to or reduced their stakes in PGNY. Royal Bank of Canada raised its position in Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after acquiring an additional 10,340 shares during the period. Amundi raised its holdings in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after purchasing an additional 5,817 shares during the period. AQR Capital Management LLC lifted its stake in Progyny by 1,060.7% in the first quarter. AQR Capital Management LLC now owns 332,386 shares of the company’s stock valued at $7,425,000 after purchasing an additional 303,750 shares during the last quarter. Millennium Management LLC grew its holdings in Progyny by 7.5% during the first quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock valued at $29,107,000 after purchasing an additional 90,367 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Progyny in the first quarter worth $555,000. 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.