Progyny (NASDAQ:PGNY) Rating Lowered to “Buy” at Wall Street Zen

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

Several other equities research analysts have also commented on the stock. Truist Financial boosted their price objective on shares of Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Citizens Jmp upped their price objective on shares of Progyny from $31.00 to $33.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 8th. Wells Fargo & Company assumed coverage on Progyny in a research note on Wednesday, September 30th. They issued an “overweight” rating and a $37.00 target price for the company. Zacks Research cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Progyny currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.36.

Progyny Stock Performance

Shares of PGNY opened at $29.19 on Friday. The business’s fifty day simple moving average is $26.88 and its two-hundred day simple moving average is $24.43. Progyny has a 12 month low of $16.10 and a 12 month high of $33.06. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 31.73, a P/E/G ratio of 2.01 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $350.51 million for the quarter, compared to the consensus estimate of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. As a group, research analysts forecast that Progyny will post 1.25 EPS for the current year.

Insider Activity

In other Progyny news, Director Kevin K. Gordon sold 11,500 shares of Progyny stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $27.94, for a total value of $321,310.00. Following the sale, the director owned 6,792 shares of the company’s stock, valued at $189,768.48. This trade represents a 62.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Melissa B. Cummings sold 1,879 shares of the stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $28.00, for a total value of $52,612.00. Following the completion of the sale, the chief operating officer owned 66,496 shares of the company’s stock, valued at $1,861,888. The trade was a 2.75% 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. Over the last ninety days, insiders sold 17,282 shares of company stock valued at $475,790. 9.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PGNY. BlackRock Inc. bought a new position in Progyny in the 2nd quarter worth about $334,426,000. Bank of America Corp DE bought a new position in shares of Progyny during the 2nd quarter worth approximately $17,264,000. William Blair Investment Management LLC acquired a new stake in shares of Progyny during the second quarter worth about $16,807,000. Danske Bank A S purchased a new position in Progyny during the second quarter worth approximately $15,243,000. Finally, Jupiter Topco LLC purchased a new stake in Progyny in the 2nd quarter valued at $12,986,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

About Progyny

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.