Progyny (NASDAQ:PGNY) Price Target Raised to $36.00

Progyny (NASDAQ:PGNY) had its price target hoisted by Canaccord Genuity Group from $30.00 to $36.00 in a report published on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

PGNY has been the topic of several other reports. Bank of America increased their price objective on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Citizens Jmp upped their price target 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. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. KeyCorp raised their price target on shares of Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Truist Financial lifted their price objective on Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

Progyny Trading Down 2.1%

Shares of PGNY opened at $30.70 on Tuesday. Progyny has a 12 month low of $16.10 and a 12 month high of $33.06. The stock’s 50 day moving average is $27.75 and its two-hundred day moving average is $23.05. The firm has a market cap of $2.40 billion, a P/E ratio of 39.87, a PEG ratio of 2.49 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $326.46 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue was down 26.4% compared to the same quarter last year. 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 research analysts forecast that Progyny will post 1.19 EPS for the current year.

Progyny announced that its board has initiated a share buyback program on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Geoffrey Clapp sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the transaction, 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 filing with the SEC, which is available at this link. Also, Director Cheryl Scott sold 7,439 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director owned 19,772 shares in the company, valued at $521,783.08. The trade was a 27.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 36,916 shares of company stock valued at $939,875. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Progyny

A number of large investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in shares of Progyny by 53.3% in the second quarter. Versant Capital Management Inc now owns 4,330 shares of the company’s stock valued at $125,000 after purchasing an additional 1,506 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Progyny by 49.4% during the first quarter. Pacer Advisors Inc. now owns 435,558 shares of the company’s stock worth $7,396,000 after buying an additional 144,073 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in Progyny by 68.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company’s stock valued at $1,396,000 after buying an additional 33,380 shares in the last quarter. Bank of America Corp DE grew its holdings in Progyny by 75.3% in 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 buying an additional 511,609 shares in the last quarter. Finally, South Dakota Investment Council increased its stake in shares of Progyny by 20.0% in the 1st quarter. South Dakota Investment Council now owns 137,524 shares of the company’s stock worth $2,335,000 after acquiring an additional 22,900 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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.