Progyny (NASDAQ:PGNY) Stock Rating Lowered by Wall Street Zen

Progyny (NASDAQ:PGNY) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages also recently weighed in on PGNY. Citigroup reiterated an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group upped their price objective on Progyny from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays increased their price objective on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, Truist Financial lifted their target price on Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Progyny Price Performance

PGNY stock opened at $31.19 on Friday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01. The company has a fifty day moving average price of $27.90 and a 200 day moving average price of $23.11. Progyny has a 12 month low of $16.10 and a 12 month high of $33.06.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.24. The company had revenue of $328.50 million for the quarter, compared to the consensus estimate of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. Progyny’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period last year, the firm 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. As a group, analysts anticipate that Progyny will post 1.19 earnings per share for the current year.

Progyny announced that its board has approved a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the completion of the transaction, the insider owned 59,117 shares in the company, valued at $1,512,212.86. This trade represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the chief financial officer owned 74,688 shares of the company’s stock, valued at $1,904,544. This trade represents a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 36,916 shares of company stock worth $939,875. 9.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Progyny by 1.5% in the fourth quarter. State Street Corp now owns 2,953,186 shares of the company’s stock valued at $75,838,000 after buying an additional 44,642 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after acquiring an additional 859,289 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after acquiring an additional 1,621,688 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 545,431 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Progyny by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company’s stock worth $50,655,000 after acquiring an additional 20,533 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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.