Progyny (NASDAQ:PGNY) Price Target Raised to $36.00 at Canaccord Genuity Group

Progyny (NASDAQ:PGNY) had its target price hoisted by Canaccord Genuity Group from $30.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 13.31% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Truist Financial raised their price target on shares of Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Citigroup reiterated an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. Finally, KeyCorp upped their target price on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Progyny presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.27.

Progyny Price Performance

Shares of PGNY stock opened at $31.77 on Tuesday. The stock’s fifty day moving average price is $27.26 and its 200 day moving average price is $22.93. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 41.26, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The business had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. During the same quarter last year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 26.4% on a year-over-year basis. 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, equities research analysts anticipate that Progyny will post 1.19 earnings per share for the current year.

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

Insider Activity at Progyny

In other news, CFO Mark S. Livingston sold 8,275 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total value of $211,012.50. Following the sale, the chief financial officer owned 79,063 shares in the company, valued at $2,016,106.50. This represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Melissa B. Cummings sold 9,578 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $25.00, for a total transaction of $239,450.00. Following the transaction, the chief operating officer directly owned 73,371 shares of the company’s stock, valued at approximately $1,834,275. This trade represents a 11.55% decrease in their position. 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 a total of 36,916 shares of company stock worth $939,875 in the last ninety days. 9.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Progyny

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. State Street Corp lifted its holdings in shares of 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 buying an additional 44,642 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in Progyny by 46.9% during 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 in the last quarter. Wellington Management Group LLP raised its position in Progyny by 260.9% during the fourth quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock valued at $57,607,000 after acquiring an additional 1,621,688 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after acquiring an additional 545,431 shares during the period. Finally, Geode Capital Management LLC boosted its position in Progyny by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company’s stock worth $50,655,000 after purchasing an additional 20,533 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

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.