Progyny (NASDAQ:PGNY) Upgraded by Leerink Partnrs to Strong-Buy Rating

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by analysts at Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports. Leerink Partnrs also issued estimates for Progyny's FY2026 earnings at $0.98 EPS.

Other analysts have also issued research reports about the company. Canaccord Genuity Group cut their price objective on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a report on Monday, May 12th. BTIG Research raised Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective for the company in a report on Monday, March 31st. Finally, Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.09.

Progyny Stock Down 0.7%

Shares of Progyny stock traded down $0.17 on Tuesday, reaching $23.61. The company's stock had a trading volume of 938,358 shares, compared to its average volume of 1,719,010. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 2.50 and a beta of 1.31. The firm's fifty day simple moving average is $21.81 and its two-hundred day simple moving average is $21.47. Progyny has a 52 week low of $13.39 and a 52 week high of $30.42.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a return on equity of 10.90% and a net margin of 4.33%. The firm had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. During the same period in the previous year, the firm earned $0.17 EPS. The business's revenue was up 16.5% on a year-over-year basis. As a group, research analysts predict that Progyny will post 0.6 EPS for the current year.

Insider Activity at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the transaction, the director directly owned 14,112 shares in the company, valued at $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Progyny

Large investors have recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company's stock valued at $25,000 after acquiring an additional 1,355 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Progyny in the first quarter valued at about $44,000. Militia Capital Partners LP lifted its position in shares of Progyny by 100.0% in the first quarter. Militia Capital Partners LP now owns 2,000 shares of the company's stock valued at $45,000 after acquiring an additional 1,000 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Progyny by 5,216.4% in the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock valued at $72,000 after acquiring an additional 3,182 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Progyny in the fourth quarter worth about $69,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.