Progyny, Inc. (NASDAQ:PGNY) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Progyny has a consensus analyst rating of "Moderate Buy" from 14 research firms, with 11 buy ratings and 3 holds. The average 12-month price target is about $29.67.
• The company reported better-than-expected quarterly earnings of $0.50 per share versus the $0.26 estimate, and revenue of $328.5 million slightly topped forecasts. However, revenue was still down 26.4% year over year.
• Progyny’s board authorized a $200 million share buyback, signaling confidence in the stock’s valuation. Insider and institutional activity was mixed, with executives selling shares while hedge funds increased their holdings.

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $29.6667.

A number of equities analysts recently issued reports on PGNY shares. Zacks Research lowered Progyny from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. Bank of America lifted their price objective on Progyny from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group upgraded Progyny from a "hold" rating to a "buy" rating and lifted their price objective for the company from $19.00 to $30.00 in a research note on Tuesday, May 19th. Jefferies Financial Group reiterated a "buy" rating and set a $30.00 price objective on shares of Progyny in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Progyny in a research note on Friday, March 27th.

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the completion of the transaction, the director owned 19,772 shares in the company, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Melissa B. Cummings sold 9,578 shares of Progyny stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total value of $239,450.00. Following the transaction, the chief operating officer owned 73,371 shares of the company's stock, valued at $1,834,275. The trade was a 11.55% 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. In the last three months, insiders have sold 36,916 shares of company stock worth $939,875. Insiders own 9.90% of the company's stock.

Hedge Funds Weigh In On Progyny

Institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC increased its stake in Progyny by 336.0% during the 3rd quarter. Intech Investment Management LLC now owns 169,834 shares of the company's stock worth $3,655,000 after buying an additional 130,885 shares in the last quarter. Vanguard Group Inc. increased its stake in Progyny by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company's stock worth $217,484,000 after buying an additional 235,513 shares in the last quarter. Algert Global LLC increased its stake in Progyny by 35.1% during the 3rd quarter. Algert Global LLC now owns 595,805 shares of the company's stock worth $12,822,000 after buying an additional 154,930 shares in the last quarter. Barclays PLC increased its stake in Progyny by 79.2% during the 3rd quarter. Barclays PLC now owns 1,575,470 shares of the company's stock worth $33,904,000 after buying an additional 696,447 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Progyny by 10.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company's stock worth $47,100,000 after buying an additional 177,546 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company's stock.

Progyny Price Performance

Shares of PGNY stock opened at $26.63 on Friday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.03. The business has a fifty day moving average of $21.46 and a 200 day moving average of $22.30. Progyny has a 1 year low of $16.10 and a 1 year high of $28.75.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.24. The company 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 firm's quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the business posted $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, equities research analysts expect that Progyny will post 1.07 earnings per share for the current year.

Progyny declared that its board has authorized a share buyback plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

About Progyny

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.

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