Progyny (NASDAQ:PGNY) Upgraded at Zacks Research

Progyny (NASDAQ:PGNY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

PGNY has been the subject of a number of other reports. Truist Financial boosted their price objective on shares of Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Citizens Jmp lifted their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Wall Street Zen upgraded shares of Progyny from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Finally, Bank of America raised their price objective on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Progyny has an average rating of “Moderate Buy” and a consensus target price of $30.09.

Progyny Trading Up 1.0%

Shares of Progyny stock opened at $31.07 on Wednesday. The firm has a market capitalization of $2.43 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01. The business’s 50-day moving average price is $25.60 and its 200-day moving average price is $22.63. Progyny has a 12 month low of $16.10 and a 12 month high of $31.36.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The company had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.Progyny’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. 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, analysts predict that Progyny will post 1.19 earnings per share for the current fiscal year.

Progyny announced that its board has authorized 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 purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Allison Swartz sold 1,199 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total transaction of $29,998.98. Following the transaction, the executive vice president owned 83,316 shares in the company, valued at $2,084,566.32. The trade was a 1.42% 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, CFO Mark S. Livingston sold 2,517 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $25.50, for a total value of $64,183.50. Following the completion of the sale, the chief financial officer owned 74,688 shares of the company’s stock, valued at approximately $1,904,544. This trade represents a 3.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,916 shares of company stock valued at $939,875 over the last ninety days. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Progyny

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC lifted its position in shares of Progyny by 35.1% in the 3rd quarter. Algert Global LLC now owns 595,805 shares of the company’s stock worth $12,822,000 after purchasing an additional 154,930 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in shares of Progyny by 10.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company’s stock valued at $47,100,000 after buying an additional 177,546 shares during the period. Easterly Investment Partners LLC increased its position in shares of Progyny by 197.4% during the fourth quarter. Easterly Investment Partners LLC now owns 146,013 shares of the company’s stock valued at $3,750,000 after buying an additional 96,912 shares during the period. First Eagle Investment Management LLC increased its position in shares of Progyny by 40.2% during the fourth quarter. First Eagle Investment Management LLC now owns 212,612 shares of the company’s stock valued at $5,460,000 after buying an additional 60,912 shares during the period. Finally, CenterBook Partners LP raised its stake in Progyny by 36.2% in the fourth quarter. CenterBook Partners LP now owns 578,171 shares of the company’s stock worth $14,847,000 after buying an additional 153,778 shares in the last quarter. Hedge funds and other institutional investors 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.