BTIG Research Raises Progyny (NASDAQ:PGNY) Price Target to $40.00

Progyny (NASDAQ:PGNY) had its price target lifted by equities researchers at BTIG Research from $30.00 to $40.00 in a report released on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 28.25% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded Progyny from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Citizens Jmp lifted their price target on shares of Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Monday, May 11th. Finally, Canaccord Genuity Group boosted their price target on shares of Progyny from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Progyny Stock Performance

Shares of PGNY opened at $31.19 on Friday. Progyny has a 52 week low of $16.10 and a 52 week high of $33.06. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.47 and a beta of 1.01. The business’s fifty day moving average price is $27.90 and its two-hundred day moving average price is $23.11.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company’s revenue was down 26.4% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. 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, research analysts forecast that Progyny will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the sale, the director owned 9,318 shares of the company’s stock, valued at approximately $232,856.82. This represents a 37.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Allison Swartz sold 1,199 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $25.02, for a total transaction of $29,998.98. Following the completion of the transaction, the executive vice president directly owned 83,316 shares of the company’s stock, valued at $2,084,566.32. This represents a 1.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,916 shares of company stock worth $939,875 in the last quarter. 9.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Progyny by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock valued at $1,549,000 after purchasing an additional 457 shares during the period. Teza Capital Management LLC raised its holdings in Progyny by 5.4% in the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after acquiring an additional 516 shares during the period. Aristides Capital LLC lifted its position in Progyny by 4.6% during the third quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock worth $257,000 after acquiring an additional 528 shares during the last quarter. Oxford Asset Management LLP lifted its position in Progyny by 4.3% during the second quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock worth $284,000 after acquiring an additional 531 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Progyny by 3.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company’s stock worth $493,000 after acquiring an additional 637 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.