Progyny (NASDAQ:PGNY) Trading Down 5.2% - What's Next?

Key Points

• Progyny, Inc. shares fell 5.2% to $20.12, with trading volume down 58% from its average, reflecting a significant market reaction.
• Equities analysts have raised target prices, with JPMorgan increasing their target from $23.00 to $25.00, indicating a consensus rating of "Moderate Buy" and an average price target of $25.44.
• In its most recent earnings report, Progyny missed EPS estimates by $0.23 but saw a 9.5% year-over-year revenue growth, bringing in $332.87 million.

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) dropped 5.2% on Thursday . The stock traded as low as $20.08 and last traded at $20.12. Approximately 570,354 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,357,467 shares. The stock had previously closed at $21.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Leerink Partners raised shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research report on Tuesday, July 8th. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Canaccord Genuity Group increased their target price on shares of Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. Finally, Raymond James Financial set a $28.00 price target on Progyny in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Progyny presently has a consensus rating of "Moderate Buy" and an average price target of $25.44.

Progyny Price Performance

The firm's 50-day simple moving average is $22.68 and its two-hundred day simple moving average is $22.26. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.34.

Progyny (NASDAQ:PGNY - Get Free Report) last released 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 firm had revenue of $332.87 million during the quarter, compared to analyst estimates of $315.70 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business's revenue was up 9.5% on a year-over-year basis. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, analysts expect that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of Progyny 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. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allison Swartz sold 2,398 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the sale, the executive vice president owned 79,697 shares in the company, valued at $1,829,843.12. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,895 shares of company stock worth $179,311 over the last quarter. Insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Progyny

Large investors have recently bought and sold shares of the stock. Nuveen LLC acquired a new position in shares of Progyny during the 1st quarter valued at about $13,645,000. Ameriprise Financial Inc. grew its holdings in Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock valued at $43,933,000 after purchasing an additional 545,431 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Progyny during the second quarter worth approximately $10,525,000. Nomura Holdings Inc. purchased a new position in Progyny during the second quarter worth approximately $9,368,000. Finally, CenterBook Partners LP boosted its holdings in shares of Progyny by 458.2% in the 1st quarter. CenterBook Partners LP now owns 515,626 shares of the company's stock valued at $11,519,000 after purchasing an additional 423,257 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company's stock.

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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