Progyny (NASDAQ:PGNY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Progyny (NASDAQ:PGNY) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. KeyCorp lifted their price target on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. increased their price target on Progyny from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Jefferies Financial Group set a $33.00 target price on shares of Progyny in a research note on Tuesday, September 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Progyny in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.33.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $36.43 on Friday. Progyny has a one year low of $16.10 and a one year high of $36.45. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 1.88 and a beta of 0.97. The stock’s fifty day moving average price is $27.87 and its two-hundred day moving average price is $24.70.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.21. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The business had revenue of $341.25 million during the quarter, compared to analysts’ expectations of $340.76 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Progyny will post 1.25 earnings per share for the current fiscal year.

Insider Activity at Progyny

In related news, Chairman David Schlanger sold 161,208 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $35.73, for a total transaction of $5,759,961.84. Following the transaction, the chairman directly owned 238,462 shares in the company, valued at approximately $8,520,247.26. The trade was a 40.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Allison Swartz sold 3,903 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $26.10, for a total value of $101,868.30. Following the completion of the transaction, the executive vice president directly owned 75,816 shares of the company’s stock, valued at approximately $1,978,797.60. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 357,276 shares of company stock valued at $12,602,622 over the last three months. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Progyny during the 2nd quarter valued at $334,426,000. Bank of America Corp DE purchased a new stake in shares of Progyny in the second quarter worth about $17,264,000. William Blair Investment Management LLC purchased a new stake in shares of Progyny in the second quarter worth about $16,807,000. Danske Bank A S bought a new position in shares of Progyny in the second quarter valued at approximately $15,243,000. Finally, Jupiter Topco LLC bought a new position in shares of Progyny in the second quarter valued at approximately $12,986,000. 94.93% of the stock is owned by institutional investors.

Key Headlines Impacting Progyny

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Progyny’s latest quarter delivered EPS of $0.52, well above the $0.31 consensus estimate, while revenue rose 8.9% year over year to $341.25 million. Recent coverage also points to raised guidance and a breakout above a technical buy point, supporting the bullish view. Article: Fertility treatment leader Progyny breaks out past buy point as earnings surge Article: Progyny stock gets fair value bump
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but maintained a Neutral rating. The reported analyst consensus target of $35.33 is also below the quoted share price, potentially limiting perceived upside at current levels. JPMorgan analyst ratings
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each sold about 161,000 shares on Nov. 9, alongside smaller sales reported for Nov. 5. The larger transactions could weigh on investor sentiment, although the filings say they were made under pre-arranged Rule 10b5-1 plans and both executives retained substantial holdings. CEO SEC filing Chairman SEC filing

Progyny Company Profile

Progyny, Inc. provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment. The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.