Progyny (NASDAQ:PGNY) Reaches New 52-Week High – Should You Buy?

Progyny, Inc. (NASDAQ:PGNY) hit a new 52-week high during trading 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.

Analysts Set New Price Targets

A number of analysts have weighed in on PGNY shares. Bank of America boosted their price target on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Citizens Jmp raised their price objective on Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Monday, May 11th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of Progyny from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Finally, Citigroup restated an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Progyny has an average rating of “Moderate Buy” and a consensus target price of $30.73.

Progyny Stock Performance

The company has a market cap of $2.53 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.54 and a beta of 1.01. The stock has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $22.75.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.46 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.Progyny’s revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the company 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. Sell-side analysts anticipate that Progyny, Inc. will post 1.19 earnings per share for the current fiscal year.

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

Insider Transactions at Progyny

In other Progyny news, insider Geoffrey Clapp sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the transaction, the insider owned 59,117 shares in the company, valued at $1,512,212.86. This trade represents 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, COO Melissa B. Cummings sold 9,578 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.00, for a total value of $239,450.00. Following the completion of the transaction, the chief operating officer directly owned 73,371 shares of the company’s stock, valued at approximately $1,834,275. The trade was a 11.55% 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 have sold 36,916 shares of company stock valued at $939,875. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PGNY. Royal Bank of Canada boosted its position in Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock valued at $291,000 after buying an additional 10,340 shares in the last quarter. Amundi increased its holdings 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 buying 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% in 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 acquiring an additional 14,297 shares during the last quarter. Invesco Ltd. boosted 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 in the last quarter. Finally, Walleye Capital LLC grew its position in Progyny by 6.9% during 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 currently owned by institutional investors and hedge funds.

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.