Progyny (NASDAQ:PGNY) Shares Up 2.9% - Here's Why

Key Points

• Progyny shares rose 2.9% to $26.67, although trading volume was about 96% below the average daily level.
• Analyst sentiment remains favorable: the stock has a consensus “Moderate Buy” rating and an average price target of $34.36, with recent upgrades from Wall Street Zen and KeyCorp.
• Progyny exceeded quarterly earnings expectations, reporting $0.55 EPS versus the $0.33 consensus and $350.51 million in revenue; institutional investors own approximately 94.93% of its shares.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) traded up 2.9% during trading on Wednesday. The company traded as high as $26.59 and last traded at $26.67. Approximately 56,585 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,393,381 shares. The stock had previously closed at $25.91.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Progyny from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 19th. KeyCorp raised their price target on shares of Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Wells Fargo & Company initiated coverage on shares of Progyny in a research report on Wednesday, September 30th. They set an "overweight" rating and a $37.00 target price on the stock. Weiss Ratings downgraded Progyny from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 31st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Progyny in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Progyny presently has a consensus rating of "Moderate Buy" and an average price target of $34.36.

Progyny Stock Up 5.6%

The stock has a market cap of $2.10 billion, a PE ratio of 29.74, a P/E/G ratio of 1.78 and a beta of 1.02. The firm has a 50-day simple moving average of $26.92 and a 200-day simple moving average of $24.96.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.22. The firm had revenue of $350.51 million for the quarter, compared to the consensus estimate of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. 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 expect that Progyny, Inc. will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kevin Gordon sold 11,500 shares of Progyny stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $101,868.30. Following the sale, the executive vice president directly owned 75,816 shares of the company's stock, valued at approximately $1,978,797.60. This trade represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Progyny

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in shares of Progyny during the second quarter valued at approximately $760,000. AWM Investment Company Inc. bought a new position in shares of Progyny during the second quarter valued at approximately $6,343,000. Bank of America Corp DE lifted its stake in 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 acquiring an additional 511,609 shares during the period. Royal Bank of Canada lifted its stake in Progyny by 98.0% in the first quarter. Royal Bank of Canada now owns 218,434 shares of the company's stock worth $3,709,000 after acquiring an additional 108,137 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Progyny during the 2nd quarter valued at approximately $11,932,000. Institutional investors own 94.93% of the company's stock.

Progyny Company Profile

Progyny, Inc NASDAQ: PGNY is a fertility and family-building benefits company that helps employers provide reproductive health services to their employees. Its platform is designed to support individuals and families navigating fertility treatment, preservation, adoption, surrogacy and related family-building needs.

The company offers an integrated benefits solution that combines personalized care navigation with access to a network of fertility specialists and treatment providers. Progyny also provides 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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