Progyny (NASDAQ:PGNY) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Progyny (NASDAQ:PGNY) had its price objective raised by stock analysts at Canaccord Genuity Group from $23.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 1.88% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price target on Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Progyny in a research note on Wednesday, October 8th. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price (up from $26.00) on shares of Progyny in a research note on Friday, August 8th. Finally, Raymond James Financial set a $28.00 price target on Progyny in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Progyny has a consensus rating of “Moderate Buy” and an average price target of $27.33.

Progyny Stock Up 4.5%

Shares of NASDAQ PGNY opened at $25.52 on Monday. The firm has a 50-day simple moving average of $20.99 and a 200-day simple moving average of $21.89. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 1.93 and a beta of 1.29. Progyny has a 52 week low of $13.39 and a 52 week high of $26.76.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The company had revenue of $313.35 million during the quarter, compared to analysts’ expectations of $299.23 million. Progyny had a net margin of 4.46% and a return on equity of 10.71%. Progyny’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, equities research analysts expect that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling at Progyny

In related news, EVP Allison Swartz sold 2,398 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was 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 directly owned 79,697 shares of the company’s stock, valued at approximately $1,829,843.12. This trade represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 5,395 shares of company stock worth $124,211. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Progyny

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Progyny by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company’s stock valued at $217,484,000 after acquiring an additional 235,513 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after purchasing an additional 545,431 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in Progyny by 2.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,931,249 shares of the company’s stock valued at $41,560,000 after purchasing an additional 39,666 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Progyny by 33.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock valued at $35,649,000 after purchasing an additional 412,395 shares during the period. Finally, Barclays PLC raised its position in Progyny by 79.2% in the third quarter. Barclays PLC now owns 1,575,470 shares of the company’s stock valued at $33,904,000 after purchasing an additional 696,447 shares during the period. 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.