Progyny (NASDAQ:PGNY) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Progyny (NASDAQ:PGNY) to a strong-buy rating in a report published on Thursday morning, Marketbeat reports. The firm currently has $37.00 price target on the stock.

Several other research firms also recently commented on PGNY. BTIG Research increased their price objective on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Bank of America raised their target price on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Barclays dropped their price objective on Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. KeyCorp boosted their target price on Progyny from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Canaccord Genuity Group set a $35.00 price target on shares of Progyny in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.36.

Progyny Trading Up 1.7%

PGNY stock opened at $25.96 on Thursday. The stock has a market cap 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 stock has a 50-day moving average price of $29.15 and a two-hundred day moving average price of $23.50. Progyny has a 1 year low of $16.10 and a 1 year high of $33.06.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm had revenue of $350.51 million for the quarter, compared to analysts’ expectations of $349.05 million. During the same quarter in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. 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 initiated a share repurchase program on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Progyny

In other Progyny news, EVP Allison Swartz sold 1,199 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total value of $29,998.98. Following the sale, the executive vice president owned 83,316 shares of the company’s stock, valued at approximately $2,084,566.32. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $39,137.40. Following the transaction, the insider directly owned 59,117 shares of the company’s stock, valued at $1,512,212.86. This trade represents a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 19,063 shares of company stock valued at $489,413. 9.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progyny

A number of institutional investors and hedge funds have recently bought and sold shares of PGNY. California State Teachers Retirement System increased its stake in Progyny by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock worth $1,549,000 after acquiring an additional 457 shares during the last quarter. Teza Capital Management LLC raised its stake in Progyny by 5.4% in the second quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after purchasing an additional 516 shares in the last quarter. Aristides Capital LLC lifted its position in Progyny by 4.6% during the third quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock valued at $257,000 after purchasing an additional 528 shares during the last quarter. Oxford Asset Management LLP increased its holdings in shares of Progyny by 4.3% in the 2nd quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock worth $284,000 after buying an additional 531 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Progyny by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company’s stock valued at $493,000 after buying an additional 637 shares in the last quarter. 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.