Geoffrey Clapp Sells 1,530 Shares of Progyny (NASDAQ:PGNY) Stock

Progyny, Inc. (NASDAQ:PGNY) insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction that occurred on 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 represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Progyny Stock Up 2.0%

Shares of Progyny stock opened at $25.48 on Friday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 33.09, a P/E/G ratio of 1.33 and a beta of 1.03. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $28.75. The firm’s 50 day moving average is $20.42 and its two-hundred day moving average is $22.27.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The company had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.47 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm’s revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the firm 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. As a group, research analysts expect that Progyny, Inc. will post 1.12 earnings per share for the current fiscal year.

Progyny declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Progyny

A number of hedge funds and other institutional investors have recently bought and sold shares of PGNY. Caitong International Asset Management Co. Ltd purchased a new position in Progyny in the 4th quarter valued at $25,000. Federated Hermes Inc. grew its position in Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after buying an additional 819 shares during the last quarter. Hantz Financial Services Inc. grew its position in Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after buying an additional 742 shares during the last quarter. Quarry LP grew its position in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after buying an additional 3,427 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Progyny in the 2nd quarter valued at $77,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PGNY. Bank of America raised 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. Canaccord Genuity Group upgraded shares of Progyny from a “hold” rating to a “buy” rating and raised their target price for the stock from $19.00 to $30.00 in a research report on Tuesday, May 19th. Jefferies Financial Group restated a “buy” rating and set a $30.00 target price on shares of Progyny in a research report on Friday, March 6th. Barclays raised their target price on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, Citizens Jmp raised their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.67.

About Progyny

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.