Progyny (NASDAQ:PGNY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Progyny (NASDAQ:PGNY) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

PGNY has been the subject of a number of other reports. Wall Street Zen raised Progyny from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Barclays upped their price target on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Truist Financial increased their price target on Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Weiss Ratings upgraded shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Finally, Citizens Jmp boosted their price objective on shares of Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Monday, May 11th. One 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 stock. According to data from MarketBeat.com, Progyny currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.09.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $31.07 on Wednesday. The company has a 50-day simple moving average of $25.60 and a 200-day simple moving average of $22.63. Progyny has a one year low of $16.10 and a one year high of $31.36. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 2.44 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The business had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was down 26.4% compared to the same quarter last year. 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, research analysts forecast that Progyny will post 1.19 EPS for the current fiscal year.

Progyny announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Progyny

In related news, Director Cheryl Scott sold 7,439 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director owned 19,772 shares of the company’s stock, valued at $521,783.08. This represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark S. Livingston sold 8,275 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total value of $211,012.50. Following the completion of the sale, the chief financial officer directly owned 79,063 shares of the company’s stock, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,916 shares of company stock worth $939,875 in the last three months. 9.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Progyny

Several hedge funds and other institutional investors have recently made changes to their positions in PGNY. Algert Global LLC boosted its holdings in Progyny by 35.1% during the third quarter. Algert Global LLC now owns 595,805 shares of the company’s stock worth $12,822,000 after buying an additional 154,930 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Progyny by 10.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,834,104 shares of the company’s stock valued at $47,100,000 after buying an additional 177,546 shares in the last quarter. Easterly Investment Partners LLC increased its holdings in Progyny by 197.4% in the fourth quarter. Easterly Investment Partners LLC now owns 146,013 shares of the company’s stock valued at $3,750,000 after buying an additional 96,912 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Progyny by 40.2% during the 4th quarter. First Eagle Investment Management LLC now owns 212,612 shares of the company’s stock valued at $5,460,000 after acquiring an additional 60,912 shares during the period. Finally, Simcoe Capital LLC acquired a new stake in shares of Progyny during the 4th quarter valued at approximately $3,902,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.