Progyny (NASDAQ:PGNY) Hits New 1-Year High - What's Next?

Key Points

• Progyny shares hit a new 52-week high, trading as high as $28.83 after rising about 0.9% on the day. The stock’s recent strength comes amid bullish technical momentum, with shares trading above both their 50-day and 200-day moving averages.
• Wall Street remains constructive on PGNY, with 11 analysts rating it a Buy and three rating it Hold. The stock carries a consensus price target of $29.92, while recent upgrades and target increases have included Bank of America and Canaccord Genuity.
• Progyny posted solid quarterly results and expanded buybacks, beating EPS estimates with $0.50 per share and slightly topping revenue expectations. The company also authorized a $200 million share repurchase program, while insiders have been selling shares and institutions continue to hold the vast majority of the stock.

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $28.83 and last traded at $28.3970, with a volume of 313694 shares trading hands. The stock had previously closed at $28.51.

Analysts Set New Price Targets

PGNY has been the topic of a number of research reports. Weiss Ratings raised shares of Progyny from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Bank of America lifted their price target on shares of Progyny from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Citizens Jmp boosted their price objective on shares of Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a research note on Monday, May 11th. Citigroup reaffirmed an "outperform" rating on shares of Progyny in a research report on Monday, May 11th. Finally, Canaccord Genuity Group raised Progyny from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $30.00 in a report on Tuesday, May 19th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.92.

Progyny Stock Up 0.9%

The firm has a market cap of $2.25 billion, a P/E ratio of 37.40, a PEG ratio of 2.52 and a beta of 1.03. The stock's 50-day simple moving average is $23.45 and its 200 day simple moving average is $22.37.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.46 million. During the same period last year, the company posted $0.17 EPS. The business's quarterly revenue was down 26.4% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. On average, research analysts forecast that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, Director Cheryl Scott sold 7,439 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director directly owned 19,772 shares of the company's stock, valued at $521,783.08. This represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin K. Gordon sold 5,500 shares of Progyny stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total transaction of $137,445.00. Following the completion of the sale, the director directly owned 9,318 shares of the company's stock, valued at approximately $232,856.82. The trade was a 37.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 36,916 shares of company stock valued at $939,875. Corporate insiders own 9.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Progyny by 260.9% in the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company's stock valued at $57,607,000 after acquiring an additional 1,621,688 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company's stock worth $45,734,000 after acquiring an additional 859,289 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Progyny in the 4th quarter worth $19,917,000. Barclays PLC lifted its position in shares of Progyny by 79.2% during the third quarter. Barclays PLC now owns 1,575,470 shares of the company's stock valued at $33,904,000 after purchasing an additional 696,447 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Progyny by 37.6% during the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock worth $43,933,000 after purchasing an additional 545,431 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

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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