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

Shares of Progyny, Inc. (NASDAQ:PGNY) have received an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $34.36.

A number of research firms recently commented on PGNY. Bank of America boosted 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. Jefferies Financial Group set a $33.00 target price on Progyny in a research note on Tuesday, September 8th. Truist Financial raised their target price on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Leerink Partners set a $38.00 price target on Progyny in a report on Wednesday, July 22nd. Finally, Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th.

Insider Buying and Selling

In other news, Director Kevin Gordon sold 11,500 shares of the 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 completion of the transaction, the director owned 6,792 shares of the company’s stock, valued at approximately $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of institutional investors have recently added to or reduced their stakes in PGNY. BlackRock Inc. bought a new position in Progyny during the 2nd quarter valued at $334,426,000. Fort Washington Investment Advisors Inc. OH boosted its stake in Progyny by 46.9% in the first 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 last quarter. Bank of America Corp DE purchased a new position in Progyny in the second quarter valued at about $17,264,000. William Blair Investment Management LLC bought a new position in shares of Progyny during the 2nd quarter valued at approximately $16,807,000. Finally, Danske Bank A S bought a new position in Progyny during the second quarter valued at $15,243,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Trading Down 2.0%

PGNY stock opened at $25.44 on Monday. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06. The business’s 50 day simple moving average is $27.76 and its 200 day simple moving average is $24.54. The firm has a market capitalization of $1.95 billion, a PE ratio of 27.65, a PEG ratio of 1.79 and a beta of 0.99.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, beating 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 prior year, the firm earned $0.19 EPS. The business’s 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. As a group, sell-side analysts predict that Progyny will post 1.25 EPS for the current fiscal year.

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.