Progyny (NASDAQ:PGNY) Given New $19.00 Price Target at Canaccord Genuity Group

Progyny (NASDAQ:PGNY) had its price objective decreased by equities researchers at Canaccord Genuity Group from $26.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 9.81% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Truist Financial dropped their price target on Progyny from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. KeyCorp lowered their target price on shares of Progyny from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Barclays initiated coverage on shares of Progyny in a research report on Monday, December 8th. They set an “overweight” rating and a $29.00 target price on the stock. Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. set a $35.00 price target on shares of Progyny in a report on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.45.

Progyny Trading Down 3.4%

Shares of PGNY traded down $0.61 during midday trading on Wednesday, hitting $17.30. 659,325 shares of the company’s stock traded hands, compared to its average volume of 1,596,987. Progyny has a 1 year low of $16.75 and a 1 year high of $28.75. The firm’s fifty day moving average is $22.79 and its 200-day moving average is $22.85. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, February 26th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. Progyny had a return on equity of 11.37% and a net margin of 4.54%.The firm had revenue of $318.40 million for the quarter, compared to the consensus estimate of $314.26 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.830-1.950 EPS and its Q1 2026 guidance at 0.420-0.450 EPS. On average, equities research analysts anticipate that Progyny will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, EVP Allison Swartz sold 4,657 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.40, for a total value of $81,031.80. Following the transaction, the executive vice president owned 89,879 shares in the company, valued at approximately $1,563,894.60. This represents a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 7,455 shares of company stock valued at $129,515 in the last 90 days. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progyny

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after acquiring an additional 10,340 shares during the period. Amundi lifted its position in Progyny by 103.8% during the first quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after purchasing an additional 5,817 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 valued at $5,630,000 after purchasing an additional 14,297 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Progyny by 357.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,138 shares of the company’s stock valued at $2,555,000 after purchasing an additional 90,775 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Progyny by 101.5% in the second quarter. Acadian Asset Management LLC now owns 414,486 shares of the company’s stock valued at $9,110,000 after purchasing an additional 208,836 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.