Progyny (NASDAQ:PGNY) Reaches New 1-Year High – Here’s What Happened

Progyny, Inc. (NASDAQ:PGNY)’s stock price reached a new 52-week high on Monday . The stock 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PGNY. Citigroup restated an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Wall Street Zen raised shares of Progyny from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Bank of America increased their price target on shares of Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Barclays raised their price target on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Weiss Ratings raised shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Progyny currently has an average rating of “Moderate Buy” and a consensus price target of $29.92.

Progyny Stock Performance

The stock has a 50 day moving average price of $23.88 and a two-hundred day moving average price of $22.42. The company has a market capitalization of $2.26 billion, a PE ratio of 37.44, a P/E/G ratio of 2.55 and a beta of 1.03.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The business had revenue of $328.50 million during the quarter, compared to analysts’ expectations of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Sell-side analysts predict that Progyny, Inc. will post 1.07 earnings per share for the current year.

Progyny announced that its board has approved a stock buyback program on Tuesday, May 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Mark S. Livingston sold 2,517 shares of Progyny stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.50, for a total value of $64,183.50. Following the completion of the sale, the chief financial officer owned 74,688 shares of the company’s stock, valued at approximately $1,904,544. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Allison Swartz sold 1,199 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total transaction of $29,998.98. Following the completion of the sale, the executive vice president owned 83,316 shares of the company’s stock, valued at $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 three months, insiders sold 36,916 shares of company stock valued at $939,875. 9.90% of the stock is owned by company insiders.

Institutional Trading of Progyny

A number of institutional investors and hedge funds have recently made changes to their positions in PGNY. Wellington Management Group LLP boosted its stake in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after acquiring an additional 1,621,688 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Progyny by 46.9% in 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 purchasing an additional 859,289 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in Progyny in the 4th quarter worth approximately $19,917,000. Barclays PLC boosted its position in Progyny by 79.2% during the third quarter. Barclays PLC now owns 1,575,470 shares of the company’s stock worth $33,904,000 after purchasing an additional 696,447 shares during the period. Finally, Ameriprise Financial Inc. boosted its position 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 period. 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.