Progyny (NASDAQ:PGNY) Sets New 12-Month High Following Earnings Beat

Shares of Progyny, Inc. (NASDAQ:PGNY) reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $35.50 and last traded at $34.0550, with a volume of 175,409 shares trading hands. The stock had previously closed at $30.10.

The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. Progyny had a return on equity of 15.98% and a net margin of 6.00%. The business had revenue of $341.25 million during the quarter, compared to analyst estimates of $340.76 million. During the same quarter in the prior year, the business posted $0.15 EPS. Progyny’s revenue for the quarter was up 8.9% compared to the same quarter last year.

Progyny News Roundup

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Progyny reported Q3 earnings of $0.52 per share, above analyst estimates, on revenue of $341.25 million, slightly ahead of expectations and up 8.9% year over year. The company also characterized the quarter as record-setting. Progyny Q3 results
• Positive Sentiment: The company raised its full-year 2026 earnings guidance and issued fourth-quarter guidance. A higher forecast can signal improving expectations for profitability. 2026 earnings guidance
• Positive Sentiment: Citizens raised its price target to $38 following the guidance increase, while Cantor Fitzgerald lifted its target from $31 to $35 and maintained an Overweight rating. Citizens price-target update
• Neutral Sentiment: A Q3 review highlighted new client wins and margin expansion, but described the market response as cautious—suggesting investors may want further evidence that growth and profitability will persist. Q3 business and market review

Wall Street Analyst Weigh In

Several research firms recently issued reports on PGNY. Leerink Partners set a $38.00 target price on Progyny in a research report on Wednesday, July 22nd. BTIG Research lifted their target price on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Citizens Jmp boosted their price target on Progyny from $33.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday. Jefferies Financial Group set a $33.00 price target on Progyny in a research note on Tuesday, September 8th. Finally, Wall Street Zen downgraded Progyny from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.92.

Insider Buying and Selling at Progyny

In other news, Director Kevin Gordon sold 11,500 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $27.94, for a total transaction of $321,310.00. Following the transaction, the director owned 6,792 shares of the company’s stock, valued at approximately $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Melissa Cummings sold 1,879 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $28.00, for a total value of $52,612.00. Following the transaction, the chief operating officer directly owned 66,496 shares in the company, valued at approximately $1,861,888. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,282 shares of company stock worth $475,790 over the last 90 days. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Progyny in the 2nd quarter valued at $334,426,000. Bank of America Corp DE lifted its position in shares of Progyny by 75.3% during the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after purchasing an additional 511,609 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Progyny during the second quarter worth $16,807,000. Danske Bank A S bought a new stake in shares of Progyny during the second quarter worth $15,243,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Progyny during the second quarter valued at $12,986,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Up 13.2%

The stock has a market capitalization of $2.62 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. The stock’s 50 day moving average price is $27.11 and its 200-day moving average price is $24.49.

About Progyny

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.