Progyny, Inc. (NASDAQ:PGNY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Progyny, Inc. (NASDAQ:PGNY) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $30.0909.

Several brokerages recently issued reports on PGNY. Truist Financial boosted their price target on shares of Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Canaccord Genuity Group upgraded shares of Progyny from a “hold” rating to a “buy” rating and lifted their target price for the company from $19.00 to $30.00 in a research note on Tuesday, May 19th. Bank of America boosted their target price on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Barclays increased their price target on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, Weiss Ratings raised Progyny from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 26th.

Insider Buying and Selling at Progyny

In related news, COO Melissa B. Cummings sold 9,578 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.00, for a total value of $239,450.00. Following the completion of the transaction, the chief operating officer directly owned 73,371 shares in the company, valued at approximately $1,834,275. The trade was a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total value of $39,137.40. Following the sale, the insider directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,916 shares of company stock worth $939,875 over the last three months. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Progyny

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after purchasing an additional 10,340 shares during the period. Amundi lifted its holdings 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 purchasing an additional 5,817 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 purchasing an additional 14,297 shares in the last quarter. Invesco Ltd. boosted its position in shares of Progyny by 37.4% during the second quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock worth $8,342,000 after buying an additional 103,253 shares during the period. Finally, Walleye Capital LLC boosted its position in shares of Progyny by 6.9% during the second quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock worth $266,000 after buying an additional 780 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Stock Down 0.5%

Progyny stock opened at $30.78 on Wednesday. The business has a 50 day moving average price of $25.10 and a two-hundred day moving average price of $22.57. Progyny has a 12 month low of $16.10 and a 12 month high of $31.36. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01.

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

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

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.