Wall Street Zen Downgrades Progyny (NASDAQ:PGNY) to Buy

Progyny (NASDAQ:PGNY) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently issued reports on PGNY. BTIG Research increased their price objective on Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday. Leerink Partners set a $38.00 target price on Progyny in a research note on Wednesday. Truist Financial upped their price target on Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Bank of America raised their price target on shares of Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Citizens Jmp lifted their price objective on shares of Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Monday, May 11th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Progyny Price Performance

Progyny stock opened at $31.19 on Friday. The company has a 50 day moving average of $27.90 and a 200-day moving average of $23.08. Progyny has a twelve month low of $16.10 and a twelve month high of $33.06. The stock has a market capitalization of $2.44 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 2.47 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm’s quarterly revenue was down 26.4% on a year-over-year basis. During the same period last year, the business posted $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. Equities analysts anticipate that Progyny will post 1.19 EPS for the current fiscal year.

Progyny declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Progyny news, EVP Allison Swartz sold 1,199 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total transaction of $29,998.98. Following the transaction, the executive vice president owned 83,316 shares of the company’s stock, valued at $2,084,566.32. The trade was a 1.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of the company’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 value of $196,315.21. Following the sale, the director owned 19,772 shares in the company, valued at approximately $521,783.08. This represents a 27.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,916 shares of company stock valued at $939,875 in the last quarter. 9.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Progyny during the fourth quarter worth $25,000. Hantz Financial Services Inc. lifted its stake in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after acquiring an additional 742 shares during the last quarter. Quarry LP grew its position in shares of Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after acquiring an additional 3,427 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Progyny in the 2nd quarter valued at about $77,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Progyny during the 4th quarter worth about $94,000. 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.