Canaccord Genuity Group Lowers Progyny (NASDAQ:PGNY) Price Target to $19.00

Progyny (NASDAQ:PGNY) had its price target dropped by stock analysts at Canaccord Genuity Group from $26.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 9.81% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Truist Financial cut their price target on shares of Progyny from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Citizens Jmp raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Tuesday, January 20th. Zacks Research downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research note on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Progyny currently has an average rating of “Moderate Buy” and a consensus price target of $28.45.

Progyny Trading Down 3.4%

Shares of NASDAQ PGNY traded down $0.61 during midday trading on Wednesday, hitting $17.30. The company’s stock had a trading volume of 659,325 shares, compared to its average volume of 1,596,987. Progyny has a 12-month low of $16.75 and a 12-month high of $28.75. The firm has a market cap of $1.42 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01. The business’s 50 day moving average is $22.79 and its two-hundred day moving average is $22.85.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. Progyny had a return on equity of 11.37% and a net margin of 4.54%.The company had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $314.26 million. During the same quarter in the previous year, the business earned $0.42 EPS. Progyny’s revenue was up 6.7% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.830-1.950 EPS and its Q1 2026 guidance at 0.420-0.450 EPS. On average, analysts predict that Progyny will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other news, EVP Allison Swartz sold 4,657 shares of Progyny stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.40, for a total value of $81,031.80. Following the transaction, the executive vice president directly owned 89,879 shares in the company, valued at approximately $1,563,894.60. This trade represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 7,455 shares of company stock worth $129,515. 9.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progyny

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Progyny in the fourth quarter valued at about $25,000. Federated Hermes Inc. lifted its position in shares of Progyny by 147.3% during the third 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. boosted its holdings in shares of 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 in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Progyny by 61.8% in the 3rd quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after buying an additional 894 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Progyny by 164.9% in the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after buying an additional 1,624 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other 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.