Wells Fargo & Company Upgrades Progyny (NASDAQ:PGNY) to “Strong-Buy”

by · The Markets Daily

Progyny (NASDAQ:PGNY – Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. KeyCorp upped their target price on Progyny from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Truist Financial boosted their price objective on shares of Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Citizens Jmp lifted their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.36.

Check Out Our Latest Analysis on Progyny

Progyny Trading Up 1.7%

NASDAQ:PGNY opened at $25.96 on Thursday. The business’s fifty day moving average price is $29.15 and its 200 day moving average price is $23.50. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.85 and a beta of 1.01. Progyny has a 1-year low of $16.10 and a 1-year high of $33.06.

Progyny (NASDAQ:PGNY – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm had revenue of $350.51 million during the quarter, compared to analyst estimates of $349.05 million. During the same period last year, the company posted $0.19 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Equities analysts forecast that Progyny will post 1.19 earnings per share for the current year.

Progyny declared that its board has approved a stock buyback plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Progyny

In other Progyny news, Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.39, for a total value of $196,315.21. Following the sale, the director directly owned 19,772 shares in the company, valued at $521,783.08. This trade represents a 27.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allison Swartz sold 1,199 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total transaction of $29,998.98. Following the transaction, the executive vice president owned 83,316 shares in the company, valued at approximately $2,084,566.32. The trade was a 1.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 19,063 shares of company stock worth $489,413. 9.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progyny

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Caitong International Asset Management Co. Ltd bought a new stake in shares of Progyny during the fourth quarter valued at approximately $25,000. Public Employees Retirement System of Ohio acquired a new stake in Progyny during the second quarter worth $29,000. Hantz Financial Services Inc. increased its holdings in 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 during the period. Toth Financial Advisory Corp bought a new stake in Progyny in the 2nd quarter valued at $65,000. Finally, Quarry LP raised its stake in shares of Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after buying an additional 3,427 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

About Progyny

(Get Free Report)

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.

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