Progyny (NASDAQ:PGNY) Sets New 12-Month High – Here’s Why

Progyny, Inc. (NASDAQ:PGNY) shares hit a new 52-week high on Monday . The company traded as high as $30.33 and last traded at $29.9840, with a volume of 942934 shares trading hands. The stock had previously closed at $30.22.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Canaccord Genuity Group raised shares of Progyny from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $30.00 in a report on Tuesday, May 19th. Citizens Jmp upped their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Monday, May 11th. Bank of America increased their target price on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings raised Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.09.

Progyny Trading Down 0.5%

The stock has a market capitalization of $2.41 billion, a P/E ratio of 39.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01. The stock’s fifty day moving average price is $25.10 and its two-hundred day moving average price is $22.57.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The company had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. 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, analysts expect that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny declared that its board has approved a stock buyback program on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Mark S. Livingston sold 2,517 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $25.50, for a total transaction of $64,183.50. Following the completion of the sale, the chief financial officer directly owned 74,688 shares in the company, valued at $1,904,544. This represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Allison Swartz sold 1,199 shares of Progyny stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total value of $29,998.98. Following the completion of the transaction, the executive vice president directly owned 83,316 shares in the company, valued at $2,084,566.32. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,916 shares of company stock worth $939,875 in the last 90 days. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

A number of large investors have recently modified their holdings of PGNY. Caitong International Asset Management Co. Ltd bought a new stake in shares of Progyny during the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in Progyny by 79.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after buying an additional 742 shares during the period. Quarry LP boosted its holdings in shares of Progyny by 2,004.1% during the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after buying an additional 3,427 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Progyny in the 2nd quarter worth about $77,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Progyny in the 4th quarter worth about $94,000. Institutional investors own 94.93% of the company’s stock.

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.