Short Interest in Progyny, Inc. (NASDAQ:PGNY) Drops By 23.3%

Progyny, Inc. (NASDAQ:PGNY) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 4,348,246 shares, a decline of 23.3% from the December 15th total of 5,672,029 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,402,238 shares, the short-interest ratio is currently 3.1 days. Based on an average daily trading volume, of 1,402,238 shares, the short-interest ratio is currently 3.1 days. Approximately 5.6% of the shares of the company are short sold.

Progyny Trading Up 0.9%

PGNY stock traded up $0.21 during midday trading on Monday, reaching $24.52. The company had a trading volume of 1,345,594 shares, compared to its average volume of 1,292,344. The company has a 50 day moving average of $25.69 and a two-hundred day moving average of $23.20. The company has a market capitalization of $2.11 billion, a P/E ratio of 38.92, a PEG ratio of 1.55 and a beta of 0.93. Progyny has a 1 year low of $17.98 and a 1 year high of $28.75.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business 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. On average, sell-side analysts anticipate that Progyny will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PGNY shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Canaccord Genuity Group lifted their target price on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, November 17th. Zacks Research upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Barclays assumed coverage on shares of Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective for the company. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.40.

Insider Buying and Selling

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the completion of the transaction, the chief financial officer owned 48,358 shares in the company, valued at approximately $1,233,129. The trade was a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter Anevski purchased 79,500 shares of the stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 22,046 shares of company stock valued at $561,691 over the last three months. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Progyny

Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in Progyny by 0.7% during the second quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock valued at $1,549,000 after acquiring an additional 457 shares in the last quarter. Teza Capital Management LLC increased its stake in shares of Progyny by 5.4% during the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock worth $221,000 after purchasing an additional 516 shares during the last quarter. Leibman Financial Services Inc. increased its stake in shares of Progyny by 1.2% during the 4th quarter. Leibman Financial Services Inc. now owns 46,435 shares of the company’s stock worth $1,192,000 after purchasing an additional 528 shares during the last quarter. Aristides Capital LLC raised its holdings in shares of Progyny by 4.6% during the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock valued at $257,000 after purchasing an additional 528 shares in the last quarter. Finally, Oxford Asset Management LLP lifted its stake in shares of Progyny by 4.3% in the 2nd quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after purchasing an additional 531 shares during the last quarter. 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.