Progyny (NASDAQ:PGNY) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Progyny (NASDAQ:PGNY) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Other equities research analysts also recently issued reports about the company. Bank of America upped their target price on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Citigroup reissued an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. Canaccord Genuity Group upped their price objective on Progyny from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Truist Financial raised their target price on Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Finally, Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Progyny Trading Up 1.6%

PGNY stock 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 market capitalization of $2.44 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 2.47 and a beta of 1.01. The firm’s 50-day moving average is $27.90 and its two-hundred day moving average is $23.11.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The company had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.46 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was down 26.4% compared to the same quarter last year. 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, equities research analysts predict that Progyny will post 1.19 earnings per share for the current year.

Progyny announced that its board has authorized a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the transaction, the director owned 9,318 shares in the company, valued at $232,856.82. This trade represents a 37.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark S. Livingston sold 8,275 shares of Progyny stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $25.50, for a total value of $211,012.50. Following the completion of the transaction, the chief financial officer directly owned 79,063 shares in the company, valued at $2,016,106.50. This represents a 9.47% 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. Over the last ninety days, insiders sold 36,916 shares of company stock worth $939,875. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Progyny

A number of hedge funds have recently bought and sold shares of PGNY. Caitong International Asset Management Co. Ltd purchased a new position in shares of Progyny in the fourth quarter worth approximately $25,000. Hantz Financial Services Inc. lifted its position 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 acquiring an additional 742 shares in the last quarter. Quarry LP lifted 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 in the last quarter. Canada Pension Plan Investment Board acquired a new position in Progyny in the 2nd quarter worth approximately $77,000. Finally, New Age Alpha Advisors LLC acquired a new position in Progyny in the 4th quarter worth approximately $94,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.