JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Progyny (NASDAQ:PGNY) Stock

Progyny (NASDAQ:PGNY) had its price objective increased by research analysts at JPMorgan Chase & Co. from $27.00 to $30.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.23% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Wall Street Zen lowered Progyny from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Leerink Partners set a $38.00 price objective on Progyny in a research report on Wednesday, July 22nd. Truist Financial boosted their price objective on Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Bank of America increased their target price on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

Progyny Stock Performance

Shares of NASDAQ PGNY traded down $0.37 during midday trading on Friday, reaching $25.59. 220,379 shares of the company traded hands, compared to its average volume of 1,447,208. Progyny has a 12 month low of $16.10 and a 12 month high of $33.06. The stock’s 50-day simple moving average is $29.15 and its 200-day simple moving average is $23.50. The firm has a market cap of $1.96 billion, a PE ratio of 27.82, a PEG ratio of 1.85 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The business had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. During the same quarter last year, the company posted $0.19 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts expect that Progyny will post 1.19 EPS for the current year.

Progyny declared that its board has authorized a stock repurchase program on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Progyny

In related news, Director Kevin K. Gordon sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the transaction, the director owned 9,318 shares in the company, valued at $232,856.82. This trade represents a 37.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.39, for a total transaction of $196,315.21. Following the completion of the transaction, the director directly owned 19,772 shares in the company, valued at $521,783.08. This trade represents a 27.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,063 shares of company stock valued at $489,413 over the last ninety days. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Progyny

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Progyny in the second quarter worth about $334,426,000. Wellington Management Group LLP grew its position in shares of Progyny by 260.9% in the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock valued at $57,607,000 after purchasing an additional 1,621,688 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of Progyny by 46.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock valued at $45,734,000 after purchasing an additional 859,289 shares during the period. Loomis Sayles & Co. L P bought a new stake in Progyny during the 4th quarter worth approximately $19,917,000. Finally, Bank of America Corp DE bought a new stake in Progyny during the 2nd quarter worth approximately $17,264,000. Institutional investors and hedge funds 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.