Progyny (NASDAQ:PGNY) Cut to “Buy” at Wall Street Zen

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

Other analysts have also recently issued research reports about the stock. Citigroup reiterated an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Bank of America raised their price target on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. KeyCorp lifted their price objective on Progyny from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Progyny from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 26th. Finally, Truist Financial increased 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Progyny has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $31.59 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 41.03, a P/E/G ratio of 2.47 and a beta of 1.01. The company has a 50 day moving average of $28.06 and a 200-day moving average of $23.12. Progyny has a one year low of $16.10 and a one year high of $33.06.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data 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. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The business had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. During the same period in the prior year, the business posted $0.17 earnings per share. Progyny’s revenue 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. Equities research analysts anticipate that Progyny will post 1.19 earnings per share for the current year.

Progyny declared that its board has initiated a share buyback program on Tuesday, May 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Progyny

In related news, CFO Mark S. Livingston sold 2,517 shares of the stock in a transaction dated Thursday, June 4th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 36,916 shares of company stock worth $939,875. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company’s stock worth $75,838,000 after acquiring an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Progyny by 46.9% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock valued at $45,734,000 after purchasing an additional 859,289 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Progyny by 260.9% in the fourth quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after purchasing an additional 1,621,688 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after purchasing an additional 545,431 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Progyny by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company’s stock worth $50,655,000 after purchasing an additional 20,533 shares during the last quarter. 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.