Key Points
- Progyny EVP Allison Swartz sold shares twice in early June, including 1,199 shares on June 3 at $25.02 and 599 more on June 4 at $25.08. The sales were made under a pre-arranged Rule 10b5-1 plan.
- The company reported better-than-expected quarterly results, posting EPS of $0.50 versus the $0.26 consensus and revenue of $328.5 million. However, revenue was still down 26.4% year over year.
- Progyny announced a $200 million share repurchase program, which could allow it to buy back up to 10.3% of its stock. Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average target price of $29.67.
Progyny, Inc. (NASDAQ:PGNY - Get Free Report) EVP Allison Swartz sold 599 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.08, for a total value of $15,022.92. Following the completion of the sale, the executive vice president owned 82,378 shares of the company's stock, valued at $2,066,040.24. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Allison Swartz also recently made the following trade(s):
- On Wednesday, June 3rd, Allison Swartz sold 1,199 shares of Progyny stock. The shares were sold at an average price of $25.02, for a total value of $29,998.98.
Progyny Stock Performance
Shares of PGNY stock opened at $25.86 on Friday. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $28.75. The stock has a 50 day moving average price of $20.58 and a two-hundred day moving average price of $22.30. The company has a market capitalization of $2.03 billion, a P/E ratio of 33.58, a PEG ratio of 2.25 and a beta of 1.03.
Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (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 for the quarter, compared to analysts' expectations of $326.47 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The business'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. As a group, equities analysts predict that Progyny, Inc. will post 1.07 earnings per share for the current year.
Progyny declared that its board has initiated 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 repurchase up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Institutional Investors Weigh In On Progyny
Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new stake in Progyny in the fourth quarter worth $25,000. Federated Hermes Inc. boosted its holdings in Progyny by 147.3% in the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock worth $30,000 after acquiring an additional 819 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after acquiring an additional 742 shares in the last quarter. Quarry LP boosted its holdings in Progyny by 2,004.1% in 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 in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Progyny in the second quarter worth $77,000. 94.93% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on PGNY shares. Barclays boosted their target price on Progyny from $23.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, May 15th. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Bank of America upped their price target on Progyny from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday. KeyCorp reduced their price target on Progyny from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Progyny in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.67.
View Our Latest Stock Analysis on Progyny
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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