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

Key Points

• Analysts remain broadly positive on Progyny: Thirteen analysts assign the stock an average “Moderate Buy” rating, with an average 12-month price target of $33.25. Recent target increases include BTIG Research raising its target to $40.
• Quarterly results exceeded expectations: Progyny reported earnings per share of $0.50 versus the $0.26 consensus estimate and revenue of $328.5 million, though revenue declined 26.4% year over year.
• The company authorized a substantial share repurchase: Progyny approved a $200 million buyback, allowing it to repurchase up to 10.3% of outstanding shares. Institutional investors own approximately 94.93% of the stock, while insiders have sold shares in recent months.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $33.25.

PGNY has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Progyny from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 26th. Bank of America increased their price target on Progyny from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Citizens Jmp lifted their price objective on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a report on Monday, May 11th. Truist Financial upped their target price on Progyny from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Finally, BTIG Research upped their target price on Progyny from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 24th.

Progyny Stock Performance

NASDAQ:PGNY opened at $31.13 on Friday. Progyny has a 52 week low of $16.10 and a 52 week high of $33.06. The firm's 50-day simple moving average is $28.55 and its 200 day simple moving average is $23.26. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 2.47 and a beta of 1.01.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business's revenue for the quarter was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Sell-side analysts anticipate that Progyny will post 1.19 EPS for the current year.

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

Insider Buying and Selling at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the completion of the transaction, the insider directly owned 59,117 shares in the company, valued at approximately $1,512,212.86. The trade was a 2.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark S. Livingston sold 2,517 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $25.50, for a total transaction of $64,183.50. Following the sale, the chief financial officer owned 74,688 shares in the company, valued at $1,904,544. This represents a 3.26% 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. Insiders have sold a total of 36,916 shares of company stock valued at $939,875 over the last three months. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Progyny in the 4th quarter valued at $25,000. Hantz Financial Services Inc. boosted its stake in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock valued at $43,000 after buying an additional 742 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Progyny in the second quarter valued at about $77,000. Quarry LP grew its position in Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after acquiring an additional 3,427 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Progyny in the fourth quarter valued at about $94,000. 94.93% of the stock is currently owned by institutional investors.

Progyny Company Profile

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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