Progyny (NASDAQ:PGNY – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.
A number of other research firms also recently weighed in on PGNY. Bank of America upped their target price 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. Weiss Ratings upgraded shares of Progyny from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 26th. Barclays raised their target price on shares of Progyny from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Citizens Jmp lifted their target price on shares of Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Monday, May 11th. Finally, Canaccord Genuity Group raised Progyny from a “hold” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $30.00 in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.09.
View Our Latest Stock Report on PGNY
Progyny Stock Up 1.0%
Progyny (NASDAQ:PGNY – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million during the quarter, compared to the consensus estimate 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 prior year, the company earned $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. On average, research analysts anticipate that Progyny will post 1.19 earnings per share for the current year.
Progyny announced that its board has approved a share buyback plan on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
Insider Activity at Progyny
In other Progyny news, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total transaction of $137,445.00. Following the sale, the director directly owned 9,318 shares in the company, valued at approximately $232,856.82. This trade represents a 37.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.39, for a total value of $196,315.21. Following the completion of the sale, the director directly owned 19,772 shares of the company’s stock, valued at approximately $521,783.08. The trade was a 27.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,916 shares of company stock valued at $939,875 over the last ninety days. Corporate insiders own 9.90% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PGNY. Royal Bank of Canada increased its holdings in Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after buying an additional 10,340 shares in the last quarter. Amundi raised its position in Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after buying an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock worth $5,630,000 after buying an additional 14,297 shares during the last quarter. Invesco Ltd. lifted its stake in Progyny by 37.4% during the 2nd quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock valued at $8,342,000 after acquiring an additional 103,253 shares during the period. Finally, Walleye Capital LLC lifted its stake in Progyny by 6.9% during the 2nd quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock valued at $266,000 after acquiring an additional 780 shares during the period. 94.93% of the stock is owned by 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.
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