Analysts Set Progyny, Inc. (NASDAQ:PGNY) Target Price at $29.67

Shares of Progyny, Inc. (NASDAQ:PGNY) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $29.6667.

A number of research firms have commented on PGNY. KeyCorp cut their target price on shares of Progyny from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Zacks Research downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th.

Progyny Trading Down 1.1%

NASDAQ:PGNY opened at $26.31 on Friday. Progyny has a 12 month low of $16.10 and a 12 month high of $28.75. The company has a market cap of $2.06 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a 50 day simple moving average of $22.06 and a two-hundred day simple moving average of $22.27.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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 $326.47 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’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. Research analysts forecast that Progyny will post 1.07 earnings per share for the current year.

Progyny declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at $521,783.08. This trade represents a 27.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin K. Gordon sold 5,500 shares of Progyny 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 transaction, the director owned 9,318 shares in the company, valued at $232,856.82. This represents a 37.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 36,916 shares of company stock worth $939,875. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Progyny by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company’s stock worth $217,484,000 after acquiring an additional 235,513 shares during the last quarter. State Street Corp boosted its stake in shares of Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company’s stock worth $75,838,000 after acquiring an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after acquiring an additional 859,289 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after acquiring an additional 1,621,688 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after acquiring an additional 545,431 shares during the last quarter. Hedge funds and other institutional investors 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.