Key Points
- Director Kevin Gordon sold 5,500 Progyny shares on May 27 at an average price of $24.99, totaling about $137,445 and reducing his ownership by 37.12%.
- Progyny recently reported better-than-expected quarterly results, with EPS of $0.50 versus estimates of $0.26 and revenue of $328.5 million, though revenue was still down 26.4% year over year.
- The company’s board approved a $200 million stock buyback, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $29.55.
Progyny, Inc. (NASDAQ:PGNY - Get Free Report) Director Kevin Gordon sold 5,500 shares of Progyny stock in a transaction dated 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 transaction, the director owned 9,318 shares in the company, valued at $232,856.82. The trade was a 37.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Progyny Stock Performance
Progyny stock opened at $25.56 on Friday. The business's 50-day simple moving average is $19.83 and its 200-day simple moving average is $22.25. The firm has a market capitalization of $2.00 billion, a PE ratio of 33.19, a PEG ratio of 1.37 and a beta of 0.91. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $28.75.
Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.47 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm's revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Research analysts forecast that Progyny, Inc. will post 1.12 earnings per share for the current year.
Progyny declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 10.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC lifted its holdings in Progyny by 68.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company's stock worth $1,396,000 after buying an additional 33,380 shares in the last quarter. Bank of America Corp DE lifted its holdings in Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company's stock worth $20,223,000 after buying an additional 511,609 shares in the last quarter. South Dakota Investment Council lifted its holdings in Progyny by 20.0% during the 1st quarter. South Dakota Investment Council now owns 137,524 shares of the company's stock worth $2,335,000 after buying an additional 22,900 shares in the last quarter. Amundi acquired a new position in Progyny during the 1st quarter worth $180,000. Finally, California State Teachers Retirement System lifted its holdings in Progyny by 30.4% during the 1st quarter. California State Teachers Retirement System now owns 99,753 shares of the company's stock worth $1,694,000 after buying an additional 23,273 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PGNY. Citizens Jmp boosted their price target on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a research note on Monday, May 11th. Barclays lifted their price objective on Progyny from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, May 15th. BTIG Research decreased their price objective on Progyny from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Truist Financial lifted their price objective on Progyny from $28.00 to $30.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.55.
Get Our Latest Report on PGNY
Progyny Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
