Progyny (NASDAQ:PGNY) Sets New 52-Week High - Should You Buy?

Key Points

• Progyny shares reached a 52-week high of $36.50, following a sharp post-earnings rally.
• Quarterly EPS of $0.52 beat the $0.31 consensus, while revenue grew 8.9% year over year to $341.25 million. The company also expects coverage to expand by 1.3 million lives for the 2027 plan year.
• Analysts rate the stock a “Moderate Buy,” but the $35.33 consensus price target is below its recent trading level. Executives also reported sizeable share sales under pre-arranged trading plans.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $36.50 and last traded at $36.3240, with a volume of 19,853 shares. The stock had previously closed at $36.43.

Trending Headlines about Progyny

Here are a few of the latest headlines about PGNY:

• Positive Sentiment: Progyny reported quarterly EPS of $0.52, above the $0.31 consensus, while revenue rose 8.9% year over year to $341.25 million. Coverage is set to expand by 1.3 million lives for the 2027 plan year, and new clients had a near-100% pharmacy attach rate—an encouraging sign for customer growth and product adoption. Article: Progyny: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Shares reportedly broke above a technical buy point after earnings, with coverage highlighting a sharp increase in earnings. The breakout may attract momentum-oriented investors. Article: Progyny breaks out past buy point as earnings surge
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each reported selling roughly 161,000 shares on Nov. 9. The transactions were made under pre-arranged Rule 10b5-1 plans, which can reduce the significance as a signal, but the sizeable sales may still weigh on sentiment. Article: CEO Peter Anevski sells shares Article: Chairman David Schlanger sells shares

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PGNY. Citigroup reiterated a "market outperform" rating on shares of Progyny in a research report on Thursday, November 5th. Truist Financial upped their price objective on Progyny from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Progyny from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Weiss Ratings raised shares of Progyny from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Leerink Partners lifted their target price on shares of Progyny from $37.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.33.

Progyny Stock Performance

The business has a fifty day simple moving average of $27.87 and a two-hundred day simple moving average of $24.70. The company has a market cap of $2.68 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.21. The business had revenue of $341.25 million during the quarter, compared to analysts' expectations of $340.76 million. Progyny had a net margin of 6.80% and a return on equity of 19.82%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities analysts expect that Progyny, Inc. will post 1.25 EPS for the current year.

Insider Transactions at Progyny

In other Progyny news, COO Melissa B. Cummings sold 1,879 shares of Progyny stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $28.00, for a total transaction of $52,612.00. Following the transaction, the chief operating officer directly owned 66,496 shares of the company's stock, valued at $1,861,888. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Peter Anevski sold 161,308 shares of Progyny stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $35.73, for a total transaction of $5,763,534.84. Following the sale, the chief executive officer directly owned 762,468 shares in the company, valued at approximately $27,242,981.64. The trade was a 17.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 357,276 shares of company stock valued at $12,602,622. 9.90% of the stock is currently owned by company insiders.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp raised its stake in shares of Progyny by 21.3% in the third quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company's stock valued at $69,000 after acquiring an additional 480 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Progyny by 14.4% in the third quarter. Hantz Financial Services Inc. now owns 4,124 shares of the company's stock valued at $104,000 after acquiring an additional 520 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Progyny by 4.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the company's stock valued at $435,000 after acquiring an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Progyny in the second quarter valued at $29,000. Finally, State of Wyoming boosted its stake in Progyny by 3.5% in the third quarter. State of Wyoming now owns 29,806 shares of the company's stock valued at $751,000 after acquiring an additional 1,015 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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