Progyny, Inc. (NASDAQ:PGNY) Short Interest Update

Progyny, Inc. (NASDAQ:PGNY) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 4,348,246 shares, a decline of 23.3% from the December 15th total of 5,672,029 shares. Based on an average trading volume of 1,402,238 shares, the days-to-cover ratio is presently 3.1 days. Currently, 5.6% of the shares of the stock are sold short. Currently, 5.6% of the shares of the stock are sold short. Based on an average trading volume of 1,402,238 shares, the days-to-cover ratio is presently 3.1 days.

Insider Buying and Selling at Progyny

In related news, CEO Peter Anevski acquired 79,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the purchase, the chief executive officer directly owned 680,251 shares in the company, valued at approximately $16,523,296.79. The trade was a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $25.50, for a total value of $543,226.50. Following the sale, the chief financial officer owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,046 shares of company stock worth $561,691 over the last 90 days. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock valued at $291,000 after purchasing an additional 10,340 shares in the last quarter. Amundi grew its stake in shares of Progyny by 103.8% in the first quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after buying an additional 5,817 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Progyny by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock valued at $5,630,000 after buying an additional 14,297 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Progyny by 258.2% during the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock valued at $4,144,000 after buying an additional 133,703 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Progyny by 8.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 44,425 shares of the company’s stock worth $976,000 after acquiring an additional 3,376 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PGNY. Barclays initiated coverage on shares of Progyny in a research report on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Canaccord Genuity Group increased their price target on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. JPMorgan Chase & Co. upped their target price on Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.55.

Progyny Trading Up 0.9%

Shares of Progyny stock opened at $24.52 on Tuesday. The business’s fifty day moving average price is $25.71 and its 200 day moving average price is $23.23. Progyny has a twelve month low of $17.98 and a twelve month high of $28.75. The stock has a market capitalization of $2.11 billion, a P/E ratio of 38.92, a PEG ratio of 1.55 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $313.35 million for the quarter, compared to the consensus estimate of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. As a group, sell-side analysts predict that Progyny will post 0.6 EPS for the current year.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.