Progyny (NASDAQ:PGNY) Downgraded to Hold Rating by Barclays

Progyny (NASDAQ:PGNY) was downgraded by equities researchers at Barclays from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also commented on PGNY. Citizens Jmp lifted their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a report on Monday, May 11th. Bank of America increased their price target on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group raised their price target on Progyny from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded Progyny from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Progyny Trading Down 2.6%

Shares of NASDAQ:PGNY opened at $30.76 on Tuesday. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06. The stock has a market capitalization of $2.41 billion, a P/E ratio of 39.95, a P/E/G ratio of 2.51 and a beta of 1.01. The business has a 50-day moving average price of $28.18 and a two-hundred day moving average price of $23.14.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.50 EPS 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 company had revenue of $328.50 million during the quarter, compared to analysts’ expectations of $326.46 million. During the same quarter in the previous year, the company earned $0.17 EPS. Progyny’s revenue was down 26.4% on a year-over-year basis. 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, equities analysts predict that Progyny will post 1.19 EPS for the current year.

Progyny declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 26th that permits the company to buyback $200.00 million in 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 board believes its shares are undervalued.

Insider Transactions at Progyny

In other Progyny news, CFO Mark S. Livingston sold 2,517 shares of the company’s stock in a transaction that occurred 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. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Allison Swartz sold 1,199 shares of the 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 in the company, valued at approximately $2,084,566.32. This trade 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. In 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 Trading of Progyny

Several hedge funds have recently added to or reduced their stakes in PGNY. Caitong International Asset Management Co. Ltd bought a new position in Progyny during the fourth quarter worth about $25,000. Hantz Financial Services Inc. grew its stake in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after acquiring an additional 742 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Progyny in the second quarter worth about $77,000. Quarry LP increased its holdings in shares of Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company’s stock worth $77,000 after acquiring an additional 3,427 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Progyny in the fourth quarter worth about $94,000. 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.