BTIG Research Issues Positive Forecast for Progyny (NASDAQ:PGNY) Stock Price

Progyny (NASDAQ:PGNY) had its target price boosted by BTIG Research from $30.00 to $40.00 in a report published on Friday, Marketbeat reports. They currently have a buy rating on the stock.

Several other research firms have also commented on PGNY. Bank of America upped their price target on shares of Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a report on Monday, May 11th. Canaccord Genuity Group increased their price objective on shares of Progyny from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. Barclays lifted their target price on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.67.

Progyny Trading Up 1.6%

Shares of NASDAQ PGNY opened at $31.19 on Friday. The company has a market cap of $2.44 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.44 and a beta of 1.01. The stock has a fifty day moving average price of $27.90 and a 200 day moving average price of $23.11. Progyny has a 12-month low of $16.10 and a 12-month high of $33.06.

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, topping the consensus estimate of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm had revenue of $328.50 million for the quarter, compared to the consensus estimate of $326.46 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s quarterly revenue was down 26.4% on a year-over-year basis. 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, sell-side analysts forecast that Progyny will post 1.19 EPS for the current fiscal year.

Progyny declared that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy 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 Progyny news, Director Cheryl Scott sold 7,439 shares of the company’s stock in a transaction 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 directly owned 19,772 shares in the company, valued at $521,783.08. This represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark S. Livingston sold 2,517 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.50, for a total value of $64,183.50. Following the completion of the sale, the chief financial officer owned 74,688 shares in the company, valued at $1,904,544. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 36,916 shares of company stock worth $939,875. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Progyny

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Progyny in the fourth quarter valued at approximately $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 buying an additional 742 shares during the period. Quarry LP boosted its holdings in Progyny by 2,004.1% during the third quarter. Quarry LP now owns 3,598 shares of the company’s stock worth $77,000 after buying an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Progyny during the 2nd quarter worth 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. Institutional investors own 94.93% of the company’s stock.

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.