Progyny (NASDAQ:PGNY) Upgraded at Wall Street Zen

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

A number of other equities analysts also recently issued reports on the stock. Leerink Partners set a $38.00 price objective on shares of Progyny in a research note on Wednesday, July 22nd. Citigroup restated an “outperform” rating on shares of Progyny in a report on Tuesday, September 8th. BTIG Research upped their target price on Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Barclays dropped their target price on Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Finally, Truist Financial lifted their price target on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.36.

Progyny Price Performance

NASDAQ:PGNY opened at $26.86 on Friday. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06. The company has a 50-day moving average of $28.26 and a 200 day moving average of $24.36. The firm has a market cap of $2.06 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The company had revenue of $350.51 million for the quarter, compared to analysts’ expectations of $349.05 million. During the same period in the prior year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Sell-side analysts anticipate that Progyny will post 1.25 EPS for the current fiscal year.

Progyny declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Kevin Gordon sold 11,500 shares of Progyny stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total transaction of $321,310.00. Following the completion of the sale, the director directly owned 6,792 shares in the company, valued at approximately $189,768.48. The trade was a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGNY. WINTON GROUP Ltd grew its stake in Progyny by 266.7% during the 2nd quarter. WINTON GROUP Ltd now owns 251,834 shares of the company’s stock valued at $7,260,000 after purchasing an additional 183,163 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of Progyny by 5.6% in the second quarter. Engineers Gate Manager LP now owns 152,757 shares of the company’s stock worth $4,404,000 after purchasing an additional 8,156 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Progyny during the second quarter worth about $74,000. IFP Advisors Inc lifted its holdings in shares of Progyny by 376.0% during the second quarter. IFP Advisors Inc now owns 1,961 shares of the company’s stock worth $57,000 after purchasing an additional 1,549 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Progyny in the second quarter valued at approximately $1,705,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Company Profile

Progyny, Inc is a benefits management company that provides fertility and family-building solutions to employers and their employees. Its platform is designed to support individuals and couples pursuing fertility treatment, including in vitro fertilization, egg freezing, donor services, gestational surrogacy and adoption.

The company’s services combine access to a network of fertility specialists with personalized guidance, care coordination and treatment support. Progyny also offers pharmacy benefits through Progyny Rx, helping members obtain and manage medications commonly used in fertility treatments.

Progyny primarily serves employer-sponsored benefit programs in the United States.