Progyny (NASDAQ:PGNY) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Progyny from “strong buy” to “buy.” Despite the downgrade, analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $34.36.
• Progyny reported quarterly EPS of $0.55, beating the $0.33 analyst consensus, while revenue of $350.51 million exceeded estimates and increased 5.3% year over year.
• Progyny shares opened at $29.19, compared with a one-year range of $16.10 to $33.06. Insiders sold $475,790 worth of shares over the past three months, while institutional investors own 94.93% of the company.

Progyny (NASDAQ:PGNY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. Canaccord Genuity Group set a $35.00 target price on Progyny in a report on Friday, August 7th. Barclays lowered their price target on Progyny from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. Citizens Jmp upped their price target on Progyny from $31.00 to $33.00 and gave the company a "market outperform" rating in a research report on Tuesday, September 8th. Zacks Research lowered Progyny from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 19th. Finally, Leerink Partners set a $38.00 price objective on Progyny in a research note on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.36.

Progyny Price Performance

Shares of PGNY opened at $29.19 on Friday. The company has a 50-day moving average of $26.88 and a two-hundred day moving average of $24.43. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.96 and a beta of 1.02. Progyny has a one year low of $16.10 and a one year high of $33.06.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The business had revenue of $350.51 million for the quarter, compared to analyst estimates of $349.05 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The firm's revenue 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. Analysts anticipate that Progyny will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Allison Swartz sold 3,903 shares of Progyny stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $26.10, for a total transaction of $101,868.30. Following the completion of the sale, the executive vice president directly owned 75,816 shares in the company, valued at $1,978,797.60. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total value of $321,310.00. Following the completion of the sale, the director directly owned 6,792 shares of the company's stock, 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. Insiders have sold a total of 17,282 shares of company stock valued at $475,790 in the last three months. Insiders own 9.90% of the company's stock.

Institutional Trading of Progyny

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in shares of Progyny during the 2nd quarter valued at $29,000. Nykredit A S acquired a new stake in shares of Progyny in the 2nd quarter valued at $38,000. IFP Advisors Inc boosted its holdings in Progyny by 376.0% in the second quarter. IFP Advisors Inc now owns 1,961 shares of the company's stock worth $57,000 after purchasing an additional 1,549 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in Progyny in the second quarter worth $65,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Progyny in the second quarter worth $74,000. 94.93% of the stock is owned by institutional investors.

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.

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