Allison Swartz Sells 1,199 Shares of Progyny (NASDAQ:PGNY) Stock

Key Points

• Progyny EVP Allison Swartz sold shares twice, including 1,199 shares on June 3 at about $25.02 and another 599 shares on June 4 at about $25.08. The trades were made under a pre-arranged Rule 10b5-1 plan.
• Progyny recently beat quarterly earnings expectations, reporting $0.50 EPS versus $0.26 expected, with revenue of $328.5 million slightly above estimates. However, revenue was still down 26.4% from the same quarter a year earlier.
• The company also announced a $200 million share buyback, covering up to 10.3% of its stock, while analysts maintain a generally positive view with a consensus rating of “Moderate Buy” and an average price target of $29.67.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) EVP Allison Swartz sold 1,199 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total value of $29,998.98. Following the transaction, the executive vice president owned 83,316 shares of the company's stock, valued at $2,084,566.32. The trade was a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allison Swartz also recently made the following trade(s):

• On Thursday, June 4th, Allison Swartz sold 599 shares of Progyny stock. The stock was sold at an average price of $25.08, for a total value of $15,022.92.

Progyny Price Performance

PGNY stock traded up $0.38 during mid-day trading on Friday, reaching $25.86. 1,207,696 shares of the company traded hands, compared to its average volume of 1,553,521. The company has a market capitalization of $2.03 billion, a P/E ratio of 33.58, a P/E/G ratio of 1.33 and a beta of 1.03. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $28.75. The company has a fifty day moving average price of $20.42 and a 200-day moving average price of $22.27.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.47 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company's quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. As a group, analysts forecast that Progyny, Inc. will post 1.12 EPS for the current year.

Progyny announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PGNY. KeyCorp dropped their price target on Progyny from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Citizens Jmp lifted their price target on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a research report on Monday, May 11th. Canaccord Genuity Group upgraded Progyny from a "hold" rating to a "buy" rating and lifted their price target for the company from $19.00 to $30.00 in a research report on Tuesday, May 19th. BTIG Research dropped their target price on Progyny from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Finally, Truist Financial boosted their target price on Progyny from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.67.

Hedge Funds Weigh In On Progyny

A number of large investors have recently bought and sold shares of PGNY. Caitong International Asset Management Co. Ltd purchased a new position in Progyny in the 4th quarter worth approximately $25,000. Federated Hermes Inc. increased its stake in Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock worth $30,000 after purchasing an additional 819 shares during the period. Hantz Financial Services Inc. increased its stake in Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after purchasing an additional 742 shares during the period. Quarry LP increased its stake in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock worth $77,000 after purchasing an additional 3,427 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Progyny in the 2nd quarter worth approximately $77,000. 94.93% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.