Stock Repurchase Plan Approved by Progyny (NASDAQ:PGNY)

Progyny (NASDAQ:PGNY) announced that its board has authorized a share buyback program on Tuesday, May 26th, RTT News reports. The company plans to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Progyny Price Performance

Shares of PGNY stock traded up $0.17 during trading on Tuesday, reaching $25.05. The company had a trading volume of 1,107,662 shares, compared to its average volume of 1,711,836. The firm’s 50 day simple moving average is $19.36 and its two-hundred day simple moving average is $22.15. Progyny has a one year low of $16.10 and a one year high of $28.75. The company has a market capitalization of $1.96 billion, a PE ratio of 32.53, a PEG ratio of 1.32 and a beta of 0.91.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The business had revenue of $328.50 million for the quarter, compared to the consensus estimate of $326.47 million. During the same period last year, the business earned $0.17 EPS. The firm’s revenue was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Analysts forecast that Progyny will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp cut their price target on Progyny from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Barclays raised their price target on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Citizens Jmp raised their price target on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Wall Street Zen raised Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.55.

Insider Buying and Selling at Progyny

In other Progyny news, EVP Allison Swartz sold 4,657 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 89,879 shares of the company’s stock, valued at $1,563,894.60. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Melissa B. Cummings sold 9,578 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total value of $239,450.00. Following the completion of the sale, the chief operating officer directly owned 73,371 shares in the company, valued at $1,834,275. This trade represents a 11.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,308 shares of company stock valued at $579,977 in the last 90 days. 9.90% of the stock is currently owned by insiders.

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.