Key Points
- Progyny director Kevin Gordon sold 11,500 shares for $321,310 at an average price of $27.94, reducing his ownership by 62.87% to 6,792 shares.
- Progyny exceeded quarterly expectations, reporting $0.55 in EPS versus the $0.33 consensus and $350.51 million in revenue. The company also authorized a $200 million stock buyback, representing up to 10.3% of outstanding shares.
- Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $34.36 versus the stock’s reported price near $27.85; institutional investors own 94.93% of the company.
Progyny, Inc. (NASDAQ:PGNY - Get Free Report) Director Kevin Gordon sold 11,500 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total value of $321,310.00. Following the completion of the sale, the director owned 6,792 shares of the company's stock, valued at approximately $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Progyny Stock Performance
Progyny stock opened at $27.85 on Tuesday. The stock's 50 day moving average price is $28.65 and its 200 day moving average price is $24.08. Progyny, Inc. has a one year low of $16.10 and a one year high of $33.06. The firm has a market capitalization of $2.14 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99.
Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.22. The business had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. 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, analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.
Progyny declared that its board has approved a stock buyback plan on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On Progyny
Several institutional investors and hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd lifted its position in shares of Progyny by 266.7% in the second quarter. WINTON GROUP Ltd now owns 251,834 shares of the company's stock worth $7,260,000 after purchasing an additional 183,163 shares in the last quarter. Engineers Gate Manager LP lifted its position in Progyny by 5.6% in the 2nd quarter. Engineers Gate Manager LP now owns 152,757 shares of the company's stock worth $4,404,000 after buying an additional 8,156 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Progyny during the 2nd quarter valued at $74,000. IFP Advisors Inc boosted its stake in shares of Progyny by 376.0% during the 2nd quarter. IFP Advisors Inc now owns 1,961 shares of the company's stock valued at $57,000 after buying an additional 1,549 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Progyny during the 2nd quarter valued at $1,705,000. Hedge funds and other institutional investors own 94.93% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PGNY. Truist Financial boosted their price target on Progyny from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Barclays cut their price target on Progyny from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. Zacks Research raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Weiss Ratings cut Progyny from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 31st. Finally, Leerink Partners set a $38.00 target price on shares of Progyny in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.36.
Check Out Our Latest Report on Progyny
Progyny Company Profile
(
Get Free Report)
Progyny, Inc is a benefits management company that provides fertility and family-building solutions to employers and their employees. Its platform is designed to support individuals and couples pursuing fertility treatment, including in vitro fertilization, egg freezing, donor services, gestational surrogacy and adoption.
The company's services combine access to a network of fertility specialists with personalized guidance, care coordination and treatment support. Progyny also offers pharmacy benefits through Progyny Rx, helping members obtain and manage medications commonly used in fertility treatments.
Progyny primarily serves employer-sponsored benefit programs in the United States.
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].
