Progyny (NASDAQ:PGNY) Sets New 52-Week High - Still a Buy?

Key Points

• Progyny hit a new 52-week high, trading as high as $31.49 and closing around $31.48, up 3.6% on the day. The move came as the stock continued to trade above both its 50-day and 200-day moving averages.
• Analysts have turned more bullish on PGNY, with multiple firms raising ratings or price targets, including upgrades to strong buy from Wall Street Zen and Zacks Research. The stock now carries a consensus rating of “Moderate Buy” with an average price target of $30.73.
• The company reported stronger-than-expected quarterly earnings, posting EPS of $0.50 versus expectations of $0.26 and revenue slightly above estimates. Progyny also authorized a $200 million share buyback, signaling management sees value in the stock.

Progyny, Inc. (NASDAQ:PGNY - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $31.49 and last traded at $31.4770, with a volume of 98994 shares changing hands. The stock had previously closed at $30.65.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several research reports. Wall Street Zen upgraded Progyny from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 27th. Weiss Ratings upgraded shares of Progyny from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 26th. KeyCorp boosted their price target on shares of Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday. Truist Financial upped their price target on shares of Progyny from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Progyny has an average rating of "Moderate Buy" and a consensus price target of $30.73.

Progyny Trading Up 3.6%

The stock has a fifty day simple moving average of $25.85 and a two-hundred day simple moving average of $22.66. The firm has a market cap of $2.49 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.43 and a beta of 1.01.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly 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 firm had revenue of $328.50 million for 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% on a year-over-year basis. During the same period in the prior 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 predict that Progyny, Inc. will post 1.19 earnings per share for the current fiscal year.

Progyny announced that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Geoffrey Clapp sold 1,530 shares of the company's stock in a transaction 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 transaction, the insider owned 59,117 shares of the company's stock, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $137,445.00. Following the sale, the director directly owned 9,318 shares of the company's stock, valued at $232,856.82. This represents a 37.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 36,916 shares of company stock worth $939,875. Company insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Progyny

A number of institutional investors and hedge funds have recently bought and sold shares of PGNY. Royal Bank of Canada lifted its position in Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company's stock worth $291,000 after buying an additional 10,340 shares during the last quarter. Amundi raised its stake in shares of Progyny by 103.8% during the first quarter. Amundi now owns 11,419 shares of the company's stock worth $264,000 after acquiring an additional 5,817 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Progyny by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company's stock worth $5,630,000 after acquiring an additional 14,297 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Progyny by 37.4% in the 2nd quarter. Invesco Ltd. now owns 379,189 shares of the company's stock worth $8,342,000 after acquiring an additional 103,253 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Progyny by 6.9% in the 2nd quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock worth $266,000 after acquiring an additional 780 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other 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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