Progyny (NASDAQ:PGNY) Rating Increased to Strong-Buy at Wall Street Zen

Progyny (NASDAQ:PGNY) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other analysts also recently commented on PGNY. KeyCorp decreased their price objective on shares of Progyny from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a report on Monday, May 11th. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price target on shares of Progyny in a research report on Friday, March 6th. Truist Financial boosted their price target on Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Canaccord Genuity Group upgraded Progyny from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $30.00 in a report on Tuesday, May 19th. Eleven investment analysts have rated the stock with a Buy rating and three 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 a consensus target price of $29.92.

Progyny Stock Performance

Progyny stock opened at $28.51 on Friday. The company has a market cap of $2.23 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 2.42 and a beta of 1.03. Progyny has a one year low of $16.10 and a one year high of $28.75. The business has a fifty day moving average of $23.45 and a two-hundred day moving average of $22.39.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million for the quarter, compared to analysts’ expectations of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The business’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Sell-side analysts predict that Progyny will post 1.07 EPS for the current year.

Progyny announced that its board has approved a stock repurchase program on Tuesday, May 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Progyny

In other Progyny news, CFO Mark S. Livingston sold 2,517 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $25.50, for a total transaction of $64,183.50. Following the completion of the transaction, the chief financial officer directly owned 74,688 shares in the company, valued at approximately $1,904,544. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of Progyny stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the transaction, the insider owned 59,117 shares of the company’s stock, valued at approximately $1,512,212.86. The trade was a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,916 shares of company stock worth $939,875 in the last 90 days. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Progyny

A number of large investors have recently bought and sold shares of PGNY. Intech Investment Management LLC increased its stake in Progyny by 336.0% in the third quarter. Intech Investment Management LLC now owns 169,834 shares of the company’s stock valued at $3,655,000 after purchasing an additional 130,885 shares during the last quarter. Vanguard Group Inc. lifted its position in Progyny by 2.4% during the third quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company’s stock worth $217,484,000 after buying an additional 235,513 shares during the period. Algert Global LLC boosted its stake in Progyny by 35.1% in the 3rd quarter. Algert Global LLC now owns 595,805 shares of the company’s stock worth $12,822,000 after buying an additional 154,930 shares during the last quarter. Barclays PLC boosted its stake in Progyny by 79.2% in the 3rd quarter. Barclays PLC now owns 1,575,470 shares of the company’s stock worth $33,904,000 after buying an additional 696,447 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Progyny by 10.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company’s stock valued at $47,100,000 after buying an additional 177,546 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

About Progyny

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.