Progyny (NASDAQ:PGNY) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Progyny from “strong buy” to “hold.” Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus, with an average price target of $34.36 versus the stock’s $28.58 opening price.
• Progyny reported quarterly EPS of $0.55, beating the $0.33 consensus estimate, while revenue reached $350.51 million, up 5.3% year over year and slightly above expectations.
• Insiders sold 17,282 shares worth approximately $475,790 over the past 90 days, while institutional investors own a substantial 94.93% of the company’s stock.

Progyny (NASDAQ:PGNY - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

PGNY has been the subject of a number of other research reports. BTIG Research increased their price objective on shares of Progyny from $30.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 24th. Leerink Partners set a $38.00 price target on shares of Progyny in a research report on Wednesday, July 22nd. Jefferies Financial Group set a $33.00 price objective on Progyny in a report on Tuesday, September 8th. Truist Financial upped their target price on shares of Progyny from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen raised Progyny from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 19th. Nine investment 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, Progyny presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.36.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $28.58 on Monday. The firm has a market cap of $2.19 billion, a PE ratio of 31.07, a PEG ratio of 1.92 and a beta of 1.02. The firm has a fifty day moving average of $26.44 and a 200 day moving average of $25.67. 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 for the quarter, topping the consensus estimate of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The firm had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, equities analysts predict that Progyny will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Allison Swartz sold 3,903 shares of the company's stock in a transaction that occurred on 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 owned 75,816 shares in the company, valued at $1,978,797.60. This represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin K. Gordon sold 11,500 shares of the firm's stock in a transaction 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 sale, the director owned 6,792 shares of the company's stock, valued at $189,768.48. This trade represents a 62.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,282 shares of company stock worth $475,790 in the last 90 days. Company insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Progyny

Institutional investors have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. purchased a new position in shares of Progyny during the 3rd quarter worth $989,000. Nisa Investment Advisors LLC lifted its stake in shares of Progyny by 60.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,290 shares of the company's stock valued at $184,000 after purchasing an additional 2,759 shares in the last quarter. Toth Financial Advisory Corp lifted its position in Progyny by 21.3% during the third quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company's stock valued at $69,000 after buying an additional 480 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Progyny by 266.7% during the 2nd quarter. WINTON GROUP Ltd now owns 251,834 shares of the company's stock valued at $7,260,000 after acquiring an additional 183,163 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of Progyny by 5.6% during the second quarter. Engineers Gate Manager LP now owns 152,757 shares of the company's stock worth $4,404,000 after purchasing an additional 8,156 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company's stock.

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.

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.