Progyny, Inc. (NASDAQ:PGNY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Progyny, Inc. (NASDAQ:PGNY) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $30.7273.

Several research firms have recently issued reports on PGNY. Canaccord Genuity Group raised shares of Progyny from a “hold” rating to a “buy” rating and boosted their price target for the company from $19.00 to $30.00 in a research report on Tuesday, May 19th. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial lifted their price objective on shares of Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Bank of America raised their price target on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Citigroup reiterated an “outperform” rating on shares of Progyny in a research report on Monday, May 11th.

Insiders Place Their Bets

In other Progyny news, Director Kevin K. Gordon sold 5,500 shares of Progyny stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total transaction of $137,445.00. Following the completion of the transaction, the director owned 9,318 shares of the company’s stock, valued at $232,856.82. The trade was a 37.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Melissa B. Cummings sold 9,578 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total value of $239,450.00. Following the sale, the chief operating officer owned 73,371 shares in the company, valued at approximately $1,834,275. This represents a 11.55% 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 36,916 shares of company stock worth $939,875 over the last quarter. Insiders own 9.90% of the company’s stock.

Institutional Trading of Progyny

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in Progyny by 53.3% in the 2nd quarter. Versant Capital Management Inc now owns 4,330 shares of the company’s stock worth $125,000 after purchasing an additional 1,506 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Progyny by 49.4% in the 1st quarter. Pacer Advisors Inc. now owns 435,558 shares of the company’s stock valued at $7,396,000 after purchasing an additional 144,073 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Progyny by 68.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company’s stock valued at $1,396,000 after purchasing an additional 33,380 shares in the last quarter. Bank of America Corp DE grew its position in shares of Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock valued at $20,223,000 after purchasing an additional 511,609 shares in the last quarter. Finally, South Dakota Investment Council increased its holdings in shares of Progyny by 20.0% in the first quarter. South Dakota Investment Council now owns 137,524 shares of the company’s stock worth $2,335,000 after purchasing an additional 22,900 shares during the period. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

PGNY stock opened at $32.36 on Wednesday. The stock has a fifty day moving average of $26.38 and a 200-day moving average of $22.75. Progyny has a fifty-two week low of $16.10 and a fifty-two week high of $32.40. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 2.54 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million for the quarter, compared to analysts’ expectations of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same period in the previous year, the business 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. Equities analysts predict that Progyny will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has initiated a share 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 buy up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Progyny

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.