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

Progyny, Inc. (NASDAQ:PGNY)’s share price reached a new 52-week high on Wednesday. The stock traded as high as $36.50 and last traded at $36.3240, with a volume of 19,853 shares changing hands. The stock had previously closed at $36.43.

More Progyny News

These are some of the PGNY news items that stood out recently:

• 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
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but maintained a Neutral rating. The higher target reflects improved expectations, though it remains below the stock’s recent level. Article: Progyny stock gets price target bump from JPMorgan

Analyst Ratings Changes

A number of research analysts recently issued reports on PGNY shares. Citigroup restated a “market outperform” rating on shares of Progyny in a research note on Thursday, November 5th. Citizens Jmp boosted their price objective on Progyny from $33.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, November 5th. Jefferies Financial Group set a $33.00 target price on shares of Progyny in a research report on Tuesday, September 8th. Leerink Partners raised their target price on shares of Progyny from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Finally, Zacks Research cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Progyny presently has an average rating of “Moderate Buy” and an average target price of $35.33.

Progyny Price Performance

The business’s fifty day moving average price is $27.87 and its 200 day moving average price is $24.70. The firm has a market capitalization of $2.68 billion, a PE ratio of 33.47, a PEG ratio of 1.88 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. Progyny had a return on equity of 19.82% and a net margin of 6.80%. The firm had revenue of $341.25 million for the quarter, compared to analyst estimates of $340.76 million. During the same quarter last year, the company posted $0.15 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, analysts anticipate that Progyny, Inc. will post 1.25 earnings per share for the current year.

Insider Activity at Progyny

In other news, CFO Mark S. Livingston sold 2,139 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $30.00, for a total value of $64,170.00. Following the transaction, the chief financial officer owned 70,314 shares of the company’s stock, valued at approximately $2,109,420. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Peter Anevski sold 161,308 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $35.73, for a total value of $5,763,534.84. Following the sale, the chief executive officer owned 762,468 shares of the company’s stock, valued at $27,242,981.64. This trade represents 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. Insiders sold 357,276 shares of company stock worth $12,602,622 in the last ninety days. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of large investors have recently bought and sold shares of PGNY. Public Employees Retirement System of Ohio acquired a new stake in shares of Progyny in the 2nd quarter worth $29,000. Nykredit A S acquired a new position in shares of Progyny during the second quarter worth about $38,000. IFP Advisors Inc raised its holdings in Progyny by 376.0% during the second quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock worth $57,000 after purchasing an additional 1,549 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in Progyny during the second quarter worth about $65,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Progyny during the second quarter worth about $74,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.