Progyny (NASDAQ:PGNY) Trading Down 5.9% – Here’s Why

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

Wall Street Analyst Weigh In

PGNY has been the topic of several research analyst reports. Barclays initiated coverage on shares of Progyny in a research note on Monday, December 8th. They set an “overweight” rating and a $29.00 target price 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. Canaccord Genuity Group increased their price target on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. upped their target price on shares of Progyny from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Progyny presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Progyny Stock Down 11.2%

The company has a market capitalization 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 company’s 50 day simple moving average is $25.24 and its two-hundred day simple moving average is $23.11.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data 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. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The business had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. During the same quarter last year, the business posted $0.11 EPS. 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 and its Q4 2025 guidance at 0.370-0.400 EPS. Analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Progyny

In related news, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at approximately $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Peter Anevski purchased 79,500 shares of the company’s stock in a transaction on 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 purchase, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at $16,523,296.79. The trade was a 13.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 22,046 shares of company stock valued at $561,691. 9.40% of the stock is owned by insiders.

Institutional Trading of Progyny

A number of large investors have recently bought and sold shares of PGNY. Cetera Trust Company N.A increased its stake in Progyny by 303.1% in the second quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Progyny by 147.3% in the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after acquiring an additional 819 shares in the last quarter. Versant Capital Management Inc grew its holdings in Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after acquiring an additional 894 shares during the period. Covestor Ltd grew its stake in shares of Progyny by 164.9% during the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after purchasing an additional 1,624 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Progyny in the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds 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.