Progyny (NASDAQ:PGNY) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Progyny (NASDAQ:PGNY) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

A number of other research firms have also recently issued reports on PGNY. KeyCorp boosted their target price on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Canaccord Genuity Group set a $35.00 price target on Progyny in a research report on Friday, August 7th. Leerink Partners set a $38.00 price target on Progyny in a research report on Wednesday, July 22nd. Wall Street Zen upgraded Progyny from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Finally, Truist Financial lifted their price objective on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Progyny currently has an average rating of “Moderate Buy” and an average target price of $34.36.

Progyny Stock Up 2.7%

Shares of NASDAQ PGNY opened at $28.58 on Monday. Progyny has a twelve month low of $16.10 and a twelve month high of $33.06. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 1.92 and a beta of 1.02. The company’s fifty day moving average is $26.44 and its 200-day moving average is $25.67.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, research analysts anticipate that Progyny will post 1.25 EPS for the current fiscal year.

Insider Transactions at Progyny

In related news, EVP Allison Swartz sold 3,903 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $26.10, for a total transaction of $101,868.30. Following the sale, the executive vice president directly owned 75,816 shares in the company, valued at $1,978,797.60. This trade represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin K. Gordon sold 11,500 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total transaction of $321,310.00. Following the completion of the sale, the director directly owned 6,792 shares in the company, valued at $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,282 shares of company stock valued at $475,790 over the last quarter. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Progyny

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. acquired a new position in Progyny during the 3rd quarter worth approximately $989,000. Nisa Investment Advisors LLC grew its stake in shares of Progyny by 60.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,290 shares of the company’s stock worth $184,000 after acquiring an additional 2,759 shares in the last quarter. Toth Financial Advisory Corp grew its stake in shares of Progyny by 21.3% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company’s stock worth $69,000 after acquiring an additional 480 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Progyny by 266.7% in the second quarter. WINTON GROUP Ltd now owns 251,834 shares of the company’s stock valued at $7,260,000 after purchasing an additional 183,163 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in shares of Progyny by 5.6% in the second quarter. Engineers Gate Manager LP now owns 152,757 shares of the company’s stock valued at $4,404,000 after purchasing an additional 8,156 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Company Profile

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.