Progyny (NASDAQ:PGNY) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Progyny from “buy” to “strong buy.” Overall analyst sentiment remains positive, with a consensus “moderate buy” rating and an average price target of $34.36.
• Progyny reported quarterly EPS of $0.55, exceeding the $0.33 consensus estimate, while revenue reached $350.51 million and increased 5.3% year over year.
• The company authorized a $200 million share-repurchase program, allowing it to buy back up to 10.3% of outstanding shares; institutional investors own approximately 94.93% of the stock.

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

A number of other research firms have also weighed in on PGNY. Citigroup reiterated an "outperform" rating on shares of Progyny in a research report on Tuesday, September 8th. BTIG Research boosted their price objective on Progyny from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Truist Financial upped their price objective on shares of Progyny from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Wells Fargo & Company began coverage on shares of Progyny in a report on Thursday, August 20th. They issued an "overweight" rating and a $37.00 target price for the company. Finally, Barclays dropped their target price on shares of Progyny from $34.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.36.

Progyny Stock Performance

NASDAQ PGNY opened at $27.13 on Friday. Progyny has a 1 year low of $16.10 and a 1 year high of $33.06. The business's fifty day moving average is $28.37 and its two-hundred day moving average is $24.25. The stock has a market capitalization of $2.08 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.86 and a beta of 0.99.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $350.51 million during the quarter, compared to analyst estimates of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The company's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. 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, research analysts forecast that Progyny will post 1.25 earnings per share for the current year.

Progyny declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at Progyny

In other Progyny news, Director Kevin Gordon sold 11,500 shares of Progyny 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 in the company, valued at $189,768.48. The trade was a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PGNY. PNC Financial Services Group Inc. boosted its stake in shares of Progyny by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company's stock worth $493,000 after buying an additional 637 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock valued at $43,000 after acquiring an additional 742 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Progyny in the second quarter valued at about $29,000. Nykredit A S acquired a new stake in shares of Progyny in the second quarter valued at about $38,000. Finally, Allworth Financial LP raised its holdings in Progyny by 71.7% during the second quarter. Allworth Financial LP now owns 3,259 shares of the company's stock worth $94,000 after acquiring an additional 1,361 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

About Progyny

Progyny, Inc is a benefits management company that provides fertility and family-building solutions to employers and their employees. Its platform is designed to support individuals and couples pursuing fertility treatment, including in vitro fertilization, egg freezing, donor services, gestational surrogacy and adoption.

The company's services combine access to a network of fertility specialists with personalized guidance, care coordination and treatment support. Progyny also offers pharmacy benefits through Progyny Rx, helping members obtain and manage medications commonly used in fertility treatments.

Progyny primarily serves employer-sponsored benefit programs in the United States.

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