Progyny (NASDAQ:PGNY) Raised to Strong-Buy at Wall Street Zen

Progyny (NASDAQ:PGNY) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently weighed in on PGNY. BTIG Research upped their target price on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Progyny from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. KeyCorp boosted their price objective on shares of Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Jefferies Financial Group set a $33.00 price objective on shares of Progyny in a research note on Tuesday, September 8th. Finally, Weiss Ratings downgraded shares of Progyny from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.36.

Progyny Price Performance

Shares of Progyny stock opened at $27.13 on Friday. The business’s fifty day moving average price is $28.37 and its two-hundred day moving average price is $24.30. The company has a market capitalization of $2.08 billion, a P/E ratio of 29.49, a PEG ratio of 1.87 and a beta of 0.99. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) 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 business had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. During the same period last year, the firm posted $0.19 earnings per share. 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. On average, research analysts expect that Progyny will post 1.25 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In related news, Director Kevin Gordon sold 11,500 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $27.94, for a total value of $321,310.00. Following the completion of the transaction, the director directly owned 6,792 shares in the company, valued at approximately $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently bought and sold shares of PGNY. PNC Financial Services Group Inc. lifted its position in shares of Progyny by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company’s stock worth $493,000 after buying an additional 637 shares during the period. Hantz Financial Services Inc. raised its stake in Progyny by 79.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after acquiring an additional 742 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Progyny during the second quarter worth $29,000. Nykredit A S bought a new position in shares of Progyny during the second quarter valued at $38,000. Finally, Allworth Financial LP grew its holdings in shares of Progyny by 71.7% in the 2nd quarter. Allworth Financial LP now owns 3,259 shares of the company’s stock worth $94,000 after purchasing an additional 1,361 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

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.