Progyny, Inc. (NASDAQ:PGNY) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Progyny has a consensus analyst rating of “Moderate Buy”, with 10 buy ratings and 3 hold ratings among 13 analysts. The average 12-month price target is about $30.09.
• The company recently reported better-than-expected earnings, posting $0.50 EPS versus the $0.26 estimate, while revenue also slightly beat forecasts at $328.5 million. It also issued FY 2026 and Q2 2026 guidance.
• Progyny’s board approved a $200 million stock buyback covering up to 10.3% of outstanding shares, which management may view as a sign the stock is undervalued. Meanwhile, several insiders sold shares, even as institutional ownership remains high at 94.93%.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $30.0909.

A number of brokerages recently issued reports on PGNY. Truist Financial upped their price objective on shares of Progyny from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Zacks Research cut Progyny from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Canaccord Genuity Group upgraded Progyny from a "hold" rating to a "buy" rating and upped their price target for the stock from $19.00 to $30.00 in a research note on Tuesday, May 19th. Wall Street Zen raised Progyny from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 27th. Finally, Citizens Jmp raised their price objective on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a research note on Monday, May 11th.

Progyny Stock Performance

NASDAQ:PGNY opened at $30.78 on Wednesday. The company has a market capitalization of $2.41 billion, a P/E ratio of 39.97, a P/E/G ratio of 2.73 and a beta of 1.01. The stock's 50 day moving average price is $25.10 and its 200 day moving average price is $22.57. Progyny has a 52 week low of $16.10 and a 52 week high of $31.36.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.26 by $0.24. The company had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The company's revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. 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, sell-side analysts forecast that Progyny will post 1.07 earnings per share for the current fiscal year.

Progyny declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Progyny news, COO Melissa B. Cummings sold 9,578 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total transaction of $239,450.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin K. Gordon sold 5,500 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total transaction of $137,445.00. Following the transaction, the director directly owned 9,318 shares of the company's stock, valued at approximately $232,856.82. This represents a 37.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 36,916 shares of company stock valued at $939,875. 9.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in Progyny by 53.3% during the 2nd quarter. Versant Capital Management Inc now owns 4,330 shares of the company's stock valued at $125,000 after purchasing an additional 1,506 shares during the period. Pacer Advisors Inc. increased its position in Progyny by 49.4% in the 1st quarter. Pacer Advisors Inc. now owns 435,558 shares of the company's stock worth $7,396,000 after buying an additional 144,073 shares during the period. Segall Bryant & Hamill LLC increased its position in Progyny by 68.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company's stock worth $1,396,000 after buying an additional 33,380 shares during the period. Bank of America Corp DE lifted its holdings in shares of Progyny by 75.3% during the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company's stock worth $20,223,000 after buying an additional 511,609 shares during the last quarter. Finally, South Dakota Investment Council lifted its holdings in shares of Progyny by 20.0% during the first quarter. South Dakota Investment Council now owns 137,524 shares of the company's stock worth $2,335,000 after buying an additional 22,900 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

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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