Progyny (NASDAQ:PGNY) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Progyny to “strong buy,” while analysts maintain a consensus “Moderate Buy” rating and an average price target of $34.36.
• Progyny reported quarterly EPS of $0.55, beating estimates of $0.33, with revenue of $350.51 million and year-over-year growth of 5.3%.
• The company authorized a $200 million share repurchase plan, allowing it to buy back up to 10.3% of outstanding shares; institutional investors own nearly 95% of the stock.

Progyny (NASDAQ:PGNY - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently commented on PGNY. Weiss Ratings raised Progyny from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Zacks Research raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Barclays lowered their target price on Progyny from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. BTIG Research upped their price target on shares of Progyny from $30.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Leerink Partners set a $38.00 price target on shares of Progyny in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Progyny has a consensus rating of "Moderate Buy" and an average price target of $34.36.

Progyny Price Performance

Progyny stock opened at $25.96 on Thursday. Progyny has a 12-month low of $16.10 and a 12-month high of $33.06. The stock has a market capitalization of $1.99 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The firm has a 50 day simple moving average of $29.15 and a 200-day simple moving average of $23.50.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. The firm had revenue of $350.51 million for the quarter, compared to analysts' expectations of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 earnings per share. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, analysts forecast that Progyny will post 1.19 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board 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 on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the sale, the insider directly owned 59,117 shares of the company's stock, valued at $1,512,212.86. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allison Swartz sold 1,199 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $25.02, for a total value of $29,998.98. Following the sale, the executive vice president directly owned 83,316 shares of the company's stock, valued at approximately $2,084,566.32. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 19,063 shares of company stock worth $489,413. 9.90% of the stock is owned by insiders.

Institutional Trading of Progyny

Several institutional investors and hedge funds have recently bought and sold shares of PGNY. Headlands Technologies LLC purchased a new stake in Progyny during the second quarter valued at about $499,000. Two Sigma Securities LLC purchased a new position in shares of Progyny in the second quarter worth approximately $551,000. Toth Financial Advisory Corp acquired a new stake in shares of Progyny during the second quarter valued at approximately $65,000. Hsbc Holdings PLC raised its holdings in shares of Progyny by 37.4% during the second quarter. Hsbc Holdings PLC now owns 26,394 shares of the company's stock valued at $760,000 after acquiring an additional 7,188 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Progyny in the 2nd quarter valued at approximately $6,299,000. Institutional investors and hedge funds own 94.93% of the company's stock.

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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