Progyny (NASDAQ:PGNY) Stock Jumps 2.9% – Still a Buy?

Progyny, Inc. (NASDAQ:PGNY) rose 2.9% on Wednesday. The stock traded as high as $26.59 and last traded at $26.67. Approximately 56,585 shares traded hands during trading, a decline of 96% from the average session volume of 1,393,381 shares. The stock had previously closed at $25.91.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a research report on Friday, August 7th. Jefferies Financial Group set a $33.00 price objective on Progyny in a research report on Tuesday, September 8th. Weiss Ratings downgraded Progyny from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, KeyCorp upped their price target on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Progyny presently has a consensus rating of “Moderate Buy” and an average target price of $34.36.

Progyny Trading Up 5.6%

The stock has a market capitalization of $2.10 billion, a PE ratio of 29.74, a P/E/G ratio of 1.78 and a beta of 1.02. The stock has a 50 day moving average price of $26.92 and a 200-day moving average price of $24.96.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating 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 company had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. Progyny’s revenue for the quarter was up 5.3% compared to the same quarter last year. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Research analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current year.

Insider Activity

In other news, EVP Allison Swartz sold 3,903 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $26.10, for a total value of $101,868.30. Following the transaction, the executive vice president owned 75,816 shares in the company, valued at $1,978,797.60. This represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Gordon sold 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $27.94, for a total transaction of $321,310.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Progyny

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Progyny in the 2nd quarter worth $334,426,000. Fort Washington Investment Advisors Inc. OH lifted its position in Progyny by 46.9% during 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 in the last quarter. Bank of America Corp DE grew its holdings in Progyny by 75.3% during 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 during the period. River Road Asset Management LLC increased its position in Progyny by 13.9% in the fourth quarter. River Road Asset Management LLC now owns 687,824 shares of the company’s stock worth $17,663,000 after buying an additional 83,912 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Progyny in the second quarter worth about $16,807,000. Institutional investors own 94.93% of the company’s stock.

About Progyny

Progyny, Inc (NASDAQ: PGNY) is a fertility and family-building benefits company that helps employers provide reproductive health services to their employees. Its platform is designed to support individuals and families navigating fertility treatment, preservation, adoption, surrogacy and related family-building needs.

The company offers an integrated benefits solution that combines personalized care navigation with access to a network of fertility specialists and treatment providers. Progyny also provides 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.