Progyny (NASDAQ:PGNY) Price Target Raised to $30.00

Progyny (NASDAQ:PGNY) had its price objective raised by JPMorgan Chase & Co. from $27.00 to $30.00 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued research reports about the company. Citigroup reiterated an “outperform” rating on shares of Progyny in a report on Monday, May 11th. Bank of America raised their price target on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Citizens Jmp boosted their price target on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Monday, May 11th. Leerink Partners set a $38.00 price target on Progyny in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut Progyny from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

Progyny Stock Performance

Progyny stock opened at $25.65 on Friday. The company has a market cap of $1.97 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.01. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06. The company has a fifty day simple moving average of $29.13 and a 200 day simple moving average of $23.51.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The firm had revenue of $350.51 million for the quarter, compared to analysts’ expectations of $349.05 million. During the same period in the previous year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, equities research analysts forecast that Progyny will post 1.19 EPS for the current year.

Progyny declared that its board has authorized a stock repurchase program on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Kevin K. Gordon sold 5,500 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total value of $137,445.00. Following the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allison Swartz sold 1,199 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 83,316 shares of the company’s stock, valued at $2,084,566.32. This trade represents a 1.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,063 shares of company stock worth $489,413 in the last 90 days. 9.90% of the stock is owned by corporate insiders.

Institutional Trading of Progyny

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Progyny during the 2nd quarter worth approximately $334,426,000. State Street Corp raised its stake in 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 acquiring an additional 44,642 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in Progyny by 46.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock valued at $45,734,000 after acquiring an additional 859,289 shares during the period. Wellington Management Group LLP lifted its holdings in Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock valued at $57,607,000 after purchasing an additional 1,621,688 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after purchasing an additional 545,431 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

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.