Progyny, Inc. (NASDAQ:PGNY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Progyny, Inc. (NASDAQ:PGNY) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.0909.

A number of analysts recently issued reports on the company. Wall Street Zen raised Progyny from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Citizens Jmp boosted their price objective on Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Monday, May 11th. Truist Financial increased their price objective on Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Canaccord Genuity Group raised Progyny from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $30.00 in a report on Tuesday, May 19th.

Insider Transactions at Progyny

In related news, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the sale, the insider owned 59,117 shares in the company, valued at $1,512,212.86. This represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director directly owned 19,772 shares in the company, valued at $521,783.08. The trade was a 27.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,916 shares of company stock worth $939,875 over the last 90 days. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of Progyny by 1.5% in the 4th quarter. State Street Corp now owns 2,953,186 shares of the company’s stock valued at $75,838,000 after purchasing an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Progyny by 46.9% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after purchasing an additional 859,289 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Progyny by 260.9% during the fourth quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after purchasing an additional 1,621,688 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Progyny by 37.6% during the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after purchasing an additional 545,431 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Progyny by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company’s stock worth $50,655,000 after purchasing an additional 20,533 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Price Performance

Shares of PGNY opened at $30.65 on Wednesday. Progyny has a 1-year low of $16.10 and a 1-year high of $31.36. The stock has a market cap of $2.40 billion, a PE ratio of 39.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.01. The firm has a fifty day moving average price of $25.85 and a 200 day moving average price of $22.66.

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. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. During the same quarter last year, the company posted $0.17 earnings per share. The business’s quarterly revenue was down 26.4% compared to the same quarter last year. 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, equities analysts expect that Progyny will post 1.19 EPS for the current fiscal year.

Progyny declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.