Canaccord Genuity Group Forecasts Strong Price Appreciation for Progyny (NASDAQ:PGNY) Stock

Progyny (NASDAQ:PGNY) had its price target upped by Canaccord Genuity Group from $21.00 to $23.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

PGNY has been the topic of a number of other reports. Leerink Partnrs upgraded Progyny from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price objective (up previously from $26.00) on shares of Progyny in a research note on Friday, August 8th. Truist Financial increased their price objective 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. Leerink Partners upgraded Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research note on Tuesday, July 8th. Finally, Raymond James Financial set a $28.00 price target on Progyny in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.10.

Progyny Price Performance

Shares of Progyny stock opened at $23.53 on Wednesday. The firm has a market cap of $2.02 billion, a P/E ratio of 39.88, a P/E/G ratio of 1.89 and a beta of 1.32. The firm has a 50 day simple moving average of $22.55 and a 200 day simple moving average of $22.17. Progyny has a fifty-two week low of $13.39 and a fifty-two week high of $26.76.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The business had revenue of $332.87 million for the quarter, compared to analyst estimates of $315.70 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue for the quarter 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, sell-side analysts expect that Progyny will post 0.6 EPS for the current year.

Insider Activity at Progyny

In related news, Director Kevin K. Gordon sold 2,500 shares of the company’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 value of $55,100.00. Following the sale, the director directly owned 12,501 shares in the company, valued at $275,522.04. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cheryl Scott sold 2,675 shares of Progyny stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director directly owned 14,112 shares of the company’s stock, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently made changes to their positions in PGNY. Wealth Enhancement Advisory Services LLC bought a new position in shares of Progyny during the 1st quarter valued at approximately $354,000. Oppenheimer Asset Management Inc. increased its holdings in Progyny by 18.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company’s stock worth $775,000 after acquiring an additional 5,459 shares during the period. GAMMA Investing LLC boosted its position in shares of Progyny by 233.9% during the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company’s stock valued at $120,000 after acquiring an additional 3,768 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Progyny during the 4th quarter valued at about $229,000. Finally, Voya Investment Management LLC boosted its position in shares of Progyny by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company’s stock valued at $893,000 after acquiring an additional 701 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.