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

Shares of Progyny, Inc. (NASDAQ:PGNY) have earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $29.6667.

Several research analysts have weighed in on the company. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Citigroup reiterated an “outperform” rating on shares of Progyny in a report on Monday, May 11th. Citizens Jmp raised 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. BTIG Research decreased their target price on shares of Progyny from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, Bank of America raised their target price on shares of Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd.

Insiders Place Their Bets

In related news, insider Geoffrey Clapp sold 1,530 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the sale, the insider directly owned 59,117 shares of the company’s stock, valued at approximately $1,512,212.86. This trade represents a 2.52% 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 Progyny stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.39, for a total value 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 represents a 27.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 36,916 shares of company stock valued at $939,875. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock valued at $291,000 after buying an additional 10,340 shares in the last quarter. Amundi grew its stake in shares of Progyny by 103.8% in the first quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after buying an additional 5,817 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Progyny by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock valued at $5,630,000 after buying an additional 14,297 shares in the last quarter. Invesco Ltd. grew its stake in shares of Progyny by 37.4% in the second quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock valued at $8,342,000 after buying an additional 103,253 shares in the last quarter. Finally, Walleye Capital LLC grew its stake in shares of Progyny by 6.9% in the second quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock valued at $266,000 after buying an additional 780 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Price Performance

PGNY opened at $26.08 on Friday. The firm has a market cap of $2.04 billion, a P/E ratio of 33.87, a PEG ratio of 2.30 and a beta of 1.03. Progyny has a 52 week low of $16.10 and a 52 week high of $28.75. The business’s fifty day simple moving average is $22.42 and its 200 day simple moving average is $22.30.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.24. The company had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.47 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.Progyny’s revenue was down 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $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, equities analysts expect that Progyny will post 1.07 EPS for the current fiscal year.

Progyny announced that its board has initiated 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 repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.