Progyny, Inc. (NASDAQ:PGNY) Receives $33.91 Consensus PT from Analysts

Progyny, Inc. (NASDAQ:PGNY) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $33.9091.

A number of equities analysts have weighed in on PGNY shares. JPMorgan Chase & Co. upped their price objective on shares of Progyny from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Leerink Partners set a $38.00 price target on shares of Progyny in a research note 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. Bank of America raised their target price on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Citigroup reissued a “market outperform” rating on shares of Progyny in a research note on Wednesday.

Hedge Funds Weigh In On Progyny

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Progyny by 384.8% during the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after purchasing an additional 10,340 shares during the period. Amundi increased its stake in shares of Progyny by 103.8% during the first quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after buying an additional 5,817 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Progyny by 6.0% during 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 worth $5,630,000 after buying an additional 14,297 shares during the period. Invesco Ltd. raised its holdings in 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 acquiring an additional 103,253 shares in the last quarter. Finally, Walleye Capital LLC raised its holdings in 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 acquiring an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Up 2.5%

NASDAQ:PGNY opened at $26.29 on Thursday. Progyny has a 52 week low of $16.10 and a 52 week high of $33.06. The stock’s 50-day moving average price is $29.03 and its 200-day moving average price is $23.74. The stock has a market capitalization of $2.02 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.99.

Progyny (NASDAQ:PGNY) last issued its quarterly 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. The company had revenue of $350.51 million for the quarter, compared to the consensus estimate of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.Progyny’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Sell-side analysts expect that Progyny will post 1.25 earnings per share for the current fiscal year.

Progyny declared that its board has authorized a share buyback 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 shares through open market purchases. Shares buyback programs are usually 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.