Progyny's (PGNY) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Progyny's stock rating has been reaffirmed as a "hold (C-)" by Weiss Ratings in a recent report.
• Cantor Fitzgerald and other brokerages have upgraded Progyny, setting a target price of $28.00 after increasing their previous estimates.
• Progyny's recent earnings report indicated a miss in EPS estimates, yet revenue surpassed expectations with a year-over-year increase of 9.5%.

Progyny (NASDAQ:PGNY - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on PGNY. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 target price (up from $26.00) on shares of Progyny in a research report on Friday, August 8th. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Raymond James Financial set a $28.00 price target on 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 research note on Tuesday, July 8th. Finally, Canaccord Genuity Group upped their price target on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.44.

Progyny Trading Up 2.9%

PGNY stock opened at $20.58 on Wednesday. The stock has a 50-day moving average price of $22.41 and a 200-day moving average price of $22.23. Progyny has a 1-year low of $13.39 and a 1-year high of $26.76. The firm has a market cap of $1.77 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data 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). Progyny had a return on equity of 10.69% and a net margin of 4.28%.The business had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same period last year, the business posted $0.17 earnings per share. 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 forecast that Progyny will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction of $55,100.00. Following the completion of the sale, the director directly owned 12,501 shares of the company's stock, valued at approximately $275,522.04. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allison Swartz sold 2,398 shares of the business's 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 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 disclosure for this sale can be found here. Insiders have sold a total of 7,895 shares of company stock valued at $179,311 over the last three months. Corporate insiders own 9.40% of the company's stock.

Institutional Trading of Progyny

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. Nuveen LLC bought a new stake in Progyny during the 1st quarter worth approximately $13,645,000. Ameriprise Financial Inc. grew its holdings in shares of 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 acquiring an additional 545,431 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Progyny in the second quarter valued at approximately $10,525,000. Nomura Holdings Inc. bought a new position in shares of Progyny in the second quarter valued at approximately $9,368,000. Finally, CenterBook Partners LP grew its holdings in shares of Progyny by 458.2% in the first quarter. CenterBook Partners LP now owns 515,626 shares of the company's stock valued at $11,519,000 after acquiring an additional 423,257 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.