Progyny (NASDAQ:PGNY) Trading Down 12.2% - Time to Sell?

Key Points

• Progyny's stock experienced a significant decline, trading down 12.2% to reach $18.74, after closing at $21.33 the previous day.
• Despite the drop, several analysts have raised price targets for Progyny, with recommendations ranging from "hold" to "outperform" and an average target price of $25.44.
• The company reported quarterly earnings of $0.19 per share, missing estimates by $0.23, while revenue increased 9.5% year-over-year to $332.87 million.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) traded down 12.2% during mid-day trading on Friday . The company traded as low as $17.98 and last traded at $18.74. 1,263,921 shares were traded during trading, a decline of 9% from the average session volume of 1,390,661 shares. The stock had previously closed at $21.33.

Analyst Ratings Changes

Several analysts recently commented on PGNY shares. Canaccord Genuity Group raised their price objective on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Truist Financial raised 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price objective (up from $26.00) on shares of Progyny in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.44.

Progyny Stock Performance

The stock's fifty day moving average price is $22.09 and its 200-day moving average price is $22.16. The company has a market capitalization of $1.65 billion, a P/E ratio of 32.58, a PEG ratio of 1.73 and a beta of 1.34.

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 analysts' consensus estimates of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%.The business had revenue of $332.87 million for the quarter, compared to analyst estimates of $315.70 million. During the same period last year, the firm earned $0.17 EPS. Progyny's quarterly revenue was up 9.5% compared to the same quarter last year. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, research analysts predict that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, EVP Allison Swartz sold 2,398 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $22.96, for a total value of $55,058.08. Following the transaction, the executive vice president directly owned 79,697 shares of the company's stock, valued at $1,829,843.12. This represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin K. Gordon sold 2,500 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.04, for a total transaction of $55,100.00. Following the completion of the transaction, the director owned 12,501 shares in the company, valued at approximately $275,522.04. This trade represents a 16.67% decrease in their position. 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 ninety days. Insiders own 9.40% of the company's stock.

Hedge Funds Weigh In On Progyny

Several institutional investors and hedge funds have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC acquired a new position in shares of Progyny in the third quarter valued at about $583,000. Exchange Traded Concepts LLC bought a new position in Progyny during the 3rd quarter worth $803,000. USA Financial Formulas acquired a new stake in shares of Progyny during the 3rd quarter worth $100,000. Voya Investment Management LLC lifted its position in Progyny by 9.5% during the third quarter. Voya Investment Management LLC now owns 236,833 shares of the company's stock worth $5,097,000 after purchasing an additional 20,498 shares during the period. Finally, State of Wyoming increased its stake in Progyny by 368.8% in the second quarter. State of Wyoming now owns 22,793 shares of the company's stock valued at $501,000 after acquiring an additional 17,931 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Company Profile

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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