Progyny (NASDAQ:PGNY) Downgraded by Barclays to Equal Weight

Barclays downgraded shares of Progyny (NASDAQ:PGNY) from an overweight rating to an equal weight rating in a report issued on Tuesday, MarketBeat reports. Barclays currently has $34.00 price objective on the stock, up from their prior price objective of $27.00.

Several other research analysts have also weighed in on the stock. BTIG Research lifted their price objective on shares of Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Progyny from a “strong-buy” rating to a “buy” rating in a report on Saturday. Citigroup reissued an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Finally, Bank of America boosted their price target on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Progyny currently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Progyny Trading Down 2.6%

NASDAQ PGNY opened at $30.76 on Tuesday. Progyny has a 12 month low of $16.10 and a 12 month high of $33.06. The stock has a 50-day simple moving average of $28.18 and a 200 day simple moving average of $23.14. The company has a market capitalization of $2.41 billion, a PE ratio of 39.95, a P/E/G ratio of 2.51 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $328.50 million for the quarter, compared to analysts’ expectations of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company’s revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, sell-side analysts predict that Progyny will post 1.19 earnings per share for the current fiscal year.

Progyny declared that its Board of Directors has authorized a share buyback program on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Progyny

In other news, CFO Mark S. Livingston sold 8,275 shares of the business’s 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 sale, the chief financial officer directly owned 79,063 shares in the company, valued at $2,016,106.50. The trade was a 9.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total value of $39,137.40. Following the transaction, the insider directly owned 59,117 shares of the company’s stock, valued at $1,512,212.86. This represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 36,916 shares of company stock worth $939,875. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

A number of large investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 1,506 shares during the last quarter. 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 purchasing an additional 144,073 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Progyny by 68.4% during the first quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company’s stock worth $1,396,000 after purchasing an additional 33,380 shares during the last quarter. Bank of America Corp DE grew its position in Progyny by 75.3% in the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock valued at $20,223,000 after purchasing an additional 511,609 shares in the last quarter. Finally, South Dakota Investment Council increased its stake in 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 buying an additional 22,900 shares during the last quarter. Institutional investors and hedge funds 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.