Kevin Gordon Sells 11,500 Shares of Progyny (NASDAQ:PGNY) Stock

Progyny, Inc. (NASDAQ:PGNY) Director Kevin Gordon sold 11,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $27.94, for a total value of $321,310.00. Following the sale, the director directly owned 6,792 shares in the company, valued at approximately $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Progyny Stock Down 0.3%

NASDAQ PGNY opened at $27.76 on Wednesday. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The business has a 50-day moving average price of $28.59 and a 200-day moving average price of $24.13. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The company had revenue of $350.51 million for the quarter, compared to the consensus estimate of $349.05 million. During the same quarter last year, the company earned $0.19 EPS. The firm’s quarterly revenue 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. Research analysts expect that Progyny, Inc. will post 1.25 EPS for the current fiscal year.

Progyny announced that its board has initiated a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Progyny during the second quarter valued at $29,000. Nykredit A S bought a new position in Progyny during the second quarter valued at $38,000. Hantz Financial Services Inc. grew its stake in shares of Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after buying an additional 742 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Progyny by 376.0% in the 2nd quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock worth $57,000 after buying an additional 1,549 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in shares of Progyny in the 2nd quarter worth about $65,000. 94.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PGNY. Barclays dropped their target price on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Jefferies Financial Group set a $33.00 price target on shares of Progyny in a report on Tuesday, September 8th. Truist Financial boosted their price target on shares of Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of Progyny from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Finally, Citizens Jmp raised their price objective on Progyny from $31.00 to $33.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.36.

Progyny Company Profile

Progyny, Inc is a benefits management company that provides fertility and family-building solutions to employers and their employees. Its platform is designed to support individuals and couples pursuing fertility treatment, including in vitro fertilization, egg freezing, donor services, gestational surrogacy and adoption.

The company’s services combine access to a network of fertility specialists with personalized guidance, care coordination and treatment support. Progyny also offers pharmacy benefits through Progyny Rx, helping members obtain and manage medications commonly used in fertility treatments.

Progyny primarily serves employer-sponsored benefit programs in the United States.