Progyny (NASDAQ:PGNY) Cut to “Buy” at Wall Street Zen

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 on Saturday.

PGNY has been the topic of a number of other research reports. Citizens Jmp increased their price target on Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research report on Monday, May 11th. Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Barclays upped their target price on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. BTIG Research lifted their price target on shares of Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial boosted their price target on shares of Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Progyny Stock Up 1.6%

NASDAQ:PGNY opened at $31.19 on Friday. Progyny has a 52 week low of $16.10 and a 52 week high of $33.06. The company has a fifty day simple moving average of $27.90 and a two-hundred day simple moving average of $23.11. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data 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 business had revenue of $328.50 million for the quarter, compared to analysts’ expectations of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company’s revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period 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. On average, analysts expect that Progyny will post 1.19 EPS for the current year.

Progyny announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Melissa B. Cummings sold 9,578 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total value of $239,450.00. Following the completion of the transaction, the chief operating officer owned 73,371 shares in the company, valued at approximately $1,834,275. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total transaction of $137,445.00. Following the completion of the transaction, the director directly owned 9,318 shares in the company, valued at $232,856.82. This trade represents a 37.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,916 shares of company stock valued at $939,875 over the last three months. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progyny

A number of institutional investors and hedge funds have recently bought and sold shares of PGNY. Caitong International Asset Management Co. Ltd purchased a new position in shares of Progyny during the fourth quarter worth about $25,000. Hantz Financial Services Inc. lifted its holdings in shares of Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after purchasing an additional 742 shares during the last quarter. Quarry LP lifted its holdings 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 purchasing an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Progyny in the 2nd quarter valued at about $77,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Progyny in the 4th quarter valued at about $94,000. 94.93% of the stock is 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.