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

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

A number of other equities analysts have also commented on PGNY. Truist Financial raised their price objective on shares of Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings raised Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Barclays decreased their target price on Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Zacks Research downgraded Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Leerink Partners set a $38.00 price target on Progyny in a research report on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.36.

Progyny Stock Up 0.8%

Shares of NASDAQ PGNY opened at $29.41 on Friday. Progyny has a 12 month low of $16.10 and a 12 month high of $33.06. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 1.92 and a beta of 1.02. The business has a fifty day simple moving average of $26.95 and a 200-day simple moving average of $24.45.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%. The firm had revenue of $350.51 million for the quarter, compared to analysts’ expectations of $349.05 million. During the same quarter last year, the business posted $0.19 EPS. Progyny’s 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. As a group, sell-side analysts expect that Progyny will post 1.25 EPS for the current fiscal year.

Insider Activity

In related news, EVP Allison Swartz sold 3,903 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $26.10, for a total value of $101,868.30. Following the completion of the sale, the executive vice president owned 75,816 shares of the company’s stock, valued at approximately $1,978,797.60. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Melissa B. Cummings sold 1,879 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $28.00, for a total transaction of $52,612.00. Following the transaction, the chief operating officer owned 66,496 shares in the company, valued at approximately $1,861,888. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,282 shares of company stock worth $475,790 in the last ninety days. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Progyny

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Progyny during the second quarter valued at about $334,426,000. Bank of America Corp DE increased its stake in shares of Progyny by 75.3% in the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after purchasing an additional 511,609 shares during the period. William Blair Investment Management LLC bought a new position in shares of Progyny in the second quarter worth about $16,807,000. Principal Financial Group Inc. lifted its position in shares of Progyny by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 554,916 shares of the company’s stock worth $9,422,000 after purchasing an additional 78,198 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Progyny during the 2nd quarter worth about $15,243,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Company Profile

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.