BTIG Research Raises Progyny (NASDAQ:PGNY) Price Target to $40.00

Progyny (NASDAQ:PGNY) had its price target upped by equities researchers at BTIG Research from $30.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 30.29% from the company’s current price.

Several other research analysts have also issued reports on the company. Bank of America raised their target price on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Leerink Partners set a $38.00 price target on Progyny in a research note on Wednesday. KeyCorp raised their price objective on Progyny from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Citizens Jmp lifted their price objective on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Finally, Canaccord Genuity Group upped their target price on Progyny from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Progyny currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Progyny Price Performance

PGNY opened at $30.70 on Friday. Progyny has a fifty-two week low of $16.10 and a fifty-two week high of $33.06. The company’s 50 day moving average price is $27.75 and its two-hundred day moving average price is $23.05. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 2.49 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. The firm had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The company’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, equities research analysts predict that Progyny will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Progyny news, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the transaction, the insider directly owned 59,117 shares in the company, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the sale, the director directly owned 19,772 shares of the company’s stock, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 36,916 shares of company stock valued at $939,875 in the last 90 days. Company insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Progyny by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock worth $1,549,000 after purchasing an additional 457 shares during the period. Teza Capital Management LLC increased its position in shares of Progyny by 5.4% during the second quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after buying an additional 516 shares during the period. Aristides Capital LLC increased its position in shares of Progyny by 4.6% during the third quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock valued at $257,000 after buying an additional 528 shares during the period. Oxford Asset Management LLP lifted its holdings in shares of Progyny by 4.3% in the second quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock worth $284,000 after buying an additional 531 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Progyny by 3.4% in the fourth 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 in the last quarter. 94.93% of the stock is owned by 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.