Progyny (NASDAQ:PGNY) Raised to Strong-Buy at Zacks Research

Progyny (NASDAQ:PGNY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on PGNY. Citizens Jmp boosted their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Barclays increased their price target on shares of Progyny from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Citigroup reissued an “outperform” rating on shares of Progyny in a report on Monday, May 11th. Weiss Ratings upgraded shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Finally, Canaccord Genuity Group raised Progyny from a “hold” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $30.00 in a report on Tuesday, May 19th. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.09.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $31.07 on Wednesday. The business has a fifty day moving average of $25.60 and a 200-day moving average of $22.63. Progyny has a twelve month low of $16.10 and a twelve month high of $31.36. The firm has a market cap of $2.43 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last issued 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. 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 firm’s quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. 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 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 allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Progyny

In other Progyny news, Director Kevin K. Gordon sold 5,500 shares of the company’s 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 sale, the director owned 9,318 shares in the company, valued at approximately $232,856.82. The trade was a 37.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Melissa B. Cummings sold 9,578 shares of the 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 directly owned 73,371 shares in the company, valued at approximately $1,834,275. This trade represents a 11.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 36,916 shares of company stock valued at $939,875. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

A number of institutional investors have recently made changes to their positions in PGNY. Versant Capital Management Inc lifted its stake in Progyny by 53.3% in the second quarter. Versant Capital Management Inc now owns 4,330 shares of the company’s stock valued at $125,000 after buying an additional 1,506 shares during the period. Pacer Advisors Inc. boosted its holdings in Progyny by 49.4% during the first quarter. Pacer Advisors Inc. now owns 435,558 shares of the company’s stock worth $7,396,000 after buying an additional 144,073 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Progyny by 68.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company’s stock worth $1,396,000 after buying an additional 33,380 shares during the period. Bank of America Corp DE grew its position in shares of Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after buying an additional 511,609 shares during the period. Finally, South Dakota Investment Council increased its stake in shares of Progyny by 20.0% in the 1st quarter. South Dakota Investment Council now owns 137,524 shares of the company’s stock valued at $2,335,000 after acquiring an additional 22,900 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

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.