Progyny, Inc. (NASDAQ:PGNY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Progyny, Inc. has received an average brokerage recommendation of "Moderate Buy" from eleven rating firms, with a consensus price target of $25.30.
• Recent analyst updates include Cantor Fitzgerald and Leerink Partners both maintaining optimistic price targets of $28.00 for the stock.
• In the last 90 days, company insiders have sold a total of 7,895 shares, indicating significant insider activity, with 9.40% of the stock being held by insiders.

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.30.

Several research analysts have recently weighed in on PGNY shares. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target (up previously from $26.00) on shares of Progyny in a research note on Friday, August 8th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a report on Tuesday, July 8th. Truist Financial boosted their target price on shares of Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Finally, Canaccord Genuity Group lifted their target price on shares of Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th.

Insider Activity at Progyny

In other Progyny news, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total value of $55,058.08. Following the sale, the executive vice president owned 79,697 shares of the company's stock, valued at $1,829,843.12. The trade was a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin K. Gordon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the transaction, the director owned 12,501 shares of the company's stock, valued at $275,522.04. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,895 shares of company stock valued at $179,311 in the last 90 days. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Progyny

Several hedge funds have recently made changes to their positions in the business. Cetera Trust Company N.A grew its position in Progyny by 303.1% in the second quarter. Cetera Trust Company N.A now owns 1,310 shares of the company's stock worth $29,000 after acquiring an additional 985 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Progyny in the 1st quarter valued at approximately $44,000. Militia Capital Partners LP boosted its holdings in shares of Progyny by 100.0% in the 1st quarter. Militia Capital Partners LP now owns 2,000 shares of the company's stock worth $45,000 after purchasing an additional 1,000 shares during the period. Brooklyn Investment Group increased its position in shares of Progyny by 5,216.4% during the 1st quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock valued at $72,000 after purchasing an additional 3,182 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Progyny during the 2nd quarter valued at $77,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $22.63 on Thursday. The firm's 50 day moving average price is $23.00 and its 200-day moving average price is $22.22. Progyny has a 52-week low of $13.39 and a 52-week high of $26.76. The company has a market cap of $1.95 billion, a PE ratio of 38.36, a P/E/G ratio of 1.88 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.23). The firm had revenue of $332.87 million for the quarter, compared to the consensus estimate of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. Progyny's revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.17 EPS. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, analysts forecast that Progyny will post 0.6 earnings per share for the current fiscal year.

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.

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