Progyny (NASDAQ:PGNY) Hits New 52-Week High – Still a Buy?

Progyny, Inc. (NASDAQ:PGNY)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.48 and last traded at $27.2060, with a volume of 111318 shares traded. The stock had previously closed at $26.33.

Analysts Set New Price Targets

A number of research analysts have commented on the company. KeyCorp upgraded Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Progyny in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Raymond James Financial set a $28.00 price objective on Progyny in a report on Friday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price (up previously from $26.00) on shares of Progyny in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.33.

Progyny Price Performance

The stock has a market cap of $2.37 billion, a P/E ratio of 43.43, a P/E/G ratio of 2.04 and a beta of 1.29. The company’s 50 day simple moving average is $21.37 and its 200 day simple moving average is $22.00.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The firm had revenue of $313.35 million during the quarter, compared to analysts’ expectations of $299.23 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. On average, equities research analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Peter Anevski bought 79,500 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the purchase, the chief executive officer owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. The trade was a 13.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of the 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 transaction, the chief financial officer owned 48,358 shares of the company’s stock, valued at $1,233,129. The trade was a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,698 shares of company stock worth $667,437 over the last ninety days. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in shares of Progyny by 0.6% in the second quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock valued at $4,052,000 after buying an additional 1,140 shares in the last quarter. Voya Investment Management LLC raised its position in Progyny by 258.2% during the first quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock worth $4,144,000 after acquiring an additional 133,703 shares in the last quarter. Millennium Management LLC lifted its stake in Progyny by 7.5% in the first quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock valued at $29,107,000 after acquiring an additional 90,367 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Progyny by 243.6% in the 1st quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock valued at $4,589,000 after acquiring an additional 145,802 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Progyny by 88.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 56,196 shares of the company’s stock valued at $1,236,000 after acquiring an additional 26,310 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.