Progyny (NASDAQ:PGNY) Price Target Raised to $40.00

Progyny (NASDAQ:PGNY) had its price target lifted by BTIG Research from $30.00 to $40.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on PGNY. Citizens Jmp increased their target price on shares of Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Progyny from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. Leerink Partners set a $38.00 price objective on shares of Progyny in a research report on Wednesday. Barclays increased their price objective on shares of Progyny from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Bank of America boosted their target price on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Progyny Stock Performance

Shares of Progyny stock opened at $31.19 on Friday. The company has a market capitalization of $2.44 billion, a P/E ratio of 40.51, a price-to-earnings-growth ratio of 2.47 and a beta of 1.01. The stock has a fifty day simple moving average of $27.90 and a 200 day simple moving average of $23.08. Progyny has a 12-month low of $16.10 and a 12-month high of $33.06.

Progyny (NASDAQ:PGNY) last issued 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. The business 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 business’s revenue was down 26.4% on a year-over-year basis. During the same period last year, the business earned $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. On average, analysts predict that Progyny will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Progyny

In other news, CFO Mark S. Livingston sold 2,517 shares of Progyny stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $25.50, for a total value of $64,183.50. Following the completion of the transaction, the chief financial officer owned 74,688 shares in the company, valued at $1,904,544. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.39, for a total transaction of $196,315.21. Following the completion of the sale, the director directly owned 19,772 shares in the company, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 36,916 shares of company stock valued at $939,875. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Progyny by 260.9% during the 4th 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. Fort Washington Investment Advisors Inc. OH grew its holdings in Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock valued at $45,734,000 after buying an additional 859,289 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Progyny during the fourth quarter valued at about $19,917,000. Ameriprise Financial Inc. increased its position in shares of Progyny by 37.6% during the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after buying an additional 545,431 shares during the period. Finally, Bank of America Corp DE lifted its holdings 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 buying an additional 511,609 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

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.