Progyny (NASDAQ:PGNY) Given New $33.00 Price Target at Truist Financial

Progyny (NASDAQ:PGNY) had its price target lifted by equities researchers at Truist Financial from $30.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 23.87% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group raised shares of Progyny from a “hold” rating to a “buy” rating and increased their price target for the stock from $19.00 to $30.00 in a research note on Tuesday, May 19th. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. BTIG Research dropped their price objective on Progyny from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Citizens Jmp increased their target price on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Monday, May 11th. Finally, Bank of America lifted their target price on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.92.

Progyny Stock Up 2.1%

Shares of NASDAQ:PGNY traded up $0.56 during midday trading on Monday, reaching $26.64. The company’s stock had a trading volume of 386,902 shares, compared to its average volume of 1,545,332. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.03. Progyny has a 1 year low of $16.10 and a 1 year high of $28.75. The business has a 50 day moving average price of $22.42 and a 200 day moving average price of $22.28.

Progyny (NASDAQ:PGNY) last released its 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. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.46 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly 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. Sell-side analysts anticipate that Progyny will post 1.07 earnings per share for the current fiscal year.

Progyny declared that its board has authorized a stock buyback plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the sale, the director directly owned 9,318 shares in the company, valued at approximately $232,856.82. This represents a 37.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cheryl Scott sold 7,439 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.39, for a total value of $196,315.21. Following the completion of the sale, the director owned 19,772 shares of the company’s stock, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 36,916 shares of company stock worth $939,875 in the last quarter. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PGNY. Caitong International Asset Management Co. Ltd acquired a new stake in Progyny in the fourth quarter worth $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Progyny by 79.4% during 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 position in shares of Progyny during the second quarter worth about $77,000. Quarry LP grew its position in shares of Progyny by 2,004.1% during 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 during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Progyny in the 4th quarter worth about $94,000. 94.93% of the stock is owned by institutional investors and hedge funds.

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.