Truist Financial Raises Progyny (NASDAQ:PGNY) Price Target to $33.00

Progyny (NASDAQ:PGNY) had its target price boosted by research analysts at Truist Financial from $30.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 23.87% from the stock’s previous close.

PGNY has been the subject of a number of other research reports. Canaccord Genuity Group upgraded shares of Progyny from a “hold” rating to a “buy” rating and increased their price target for the company from $19.00 to $30.00 in a report on Tuesday, May 19th. Barclays boosted their price objective on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. BTIG Research dropped their target price on shares of Progyny from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 5th. KeyCorp reduced their price target on shares of Progyny from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a research note on Friday, March 27th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.92.

Progyny Price Performance

Shares of PGNY stock traded up $0.56 during mid-day trading on Monday, hitting $26.64. The stock had a trading volume of 386,902 shares, compared to its average volume of 1,545,332. Progyny has a fifty-two week low of $16.10 and a fifty-two week high of $28.75. The firm has a market cap of $2.09 billion, a PE ratio of 34.60, a PEG ratio of 2.30 and a beta of 1.03. The company’s 50-day simple moving average is $22.42 and its 200-day simple moving average is $22.28.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share 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 the consensus estimate of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The business’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous 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 1.07 EPS for the current year.

Progyny announced that its board has approved a stock repurchase program on Tuesday, May 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Progyny

In other Progyny news, CFO Mark S. Livingston sold 2,517 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $25.50, for a total transaction of $64,183.50. Following the completion of the transaction, the chief financial officer directly owned 74,688 shares in the company, valued at approximately $1,904,544. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of Progyny stock in a transaction dated 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 owned 59,117 shares of the company’s stock, valued at approximately $1,512,212.86. The trade was a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,916 shares of company stock worth $939,875 in the last 90 days. Insiders own 9.90% of the company’s stock.

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 acquired a new stake in shares of Progyny during the fourth quarter valued at $25,000. Hantz Financial Services Inc. grew its holdings in shares of Progyny by 79.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after buying an additional 742 shares in the last quarter. Quarry LP grew its holdings in shares of 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 in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Progyny in the second quarter valued at approximately $77,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Progyny in the fourth quarter valued at approximately $94,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.