Progyny, Inc.
$24.99
-4.6%Progyny, Inc., a benefits management company, specializes in fertility and family building benefits solutions for employers in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists. The company also offers Progyny Rx, an integrated pharmacy benefits solution that provides its members with access to the medications needed during their treatment. In addition, it provides surrogacy and adoption reimbursement programs for employers. The company was formerly known as Auxogyn, Inc. and changed its name to Progyny, Inc. in 2015. Progyny, Inc. was incorporated in 2008 and is headquartered in New York, New York.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is elevated (P/E 36.8).
Valuation inputs: P/E 36.8, earnings yield +2.7%, momentum -4.6%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is acceptable (ROE +11.3%, ROIC +9.7%).
Profitability stack: net margin +4.5%, ROE +11.3%, ROIC +9.7%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +30.5%, momentum -4.6%, net margin +4.5%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Progyny, Inc. Market vs Earnings Trajectory
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Progyny, Inc. Fair Value Envelope
Progyny, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.
Operating Margin
Acceptable margins but limited operational leverage. Operating expense control is important.
Net Profit Margin
Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.
Effective Tax Rate
Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.
Profitability Insight
Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.
Progyny, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
Progyny, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
Financial Health Insight
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
Progyny, Inc. Street Expectations Map
Wall Street analysts project that PGNY stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 30.33, with estimates ranging from a low of 27.00 to a high of 35.00.
The consensus 1-year price target stands at 30.33, with estimates ranging from a low of 27.00 to a high of 35.00.
Analyst Consensus Analysis
Upside Potential
Strong upside potential. Consensus indicates attractive return opportunity with favorable risk-reward profile.
Analyst Agreement
Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Progyny, Inc. Insider Positioning
During the last 12 months, insiders have purchased $1.93M and sold $1.56M worth of PGNY shares, resulting in $367K of net buying activity.
3 Months
0
0.00
25.8K
648.96K
-649K
-$649K
3-6 Months
0
0.00
3.8K
68.88K
-69K
-$69K
6-9 Months
79.5K
1.93M
34.3K
838.52K
+1.1M
+$1.09M
9-12 Months
0
0.00
339
7.98K
-8K
-$8K
Top Buyers
Anevski Peter
Director, Officer: Chief Executive Officer
$1.93M
Top Sellers
Livingston Mark S.
Officer: Chief Financial Officer
$771K
Cummings Melissa B
Officer: Chief Operating Officer
$239K
Swartz Allison
Officer: Evp, Gc
$204K
Anevski Peter
Director, Officer: Chief Executive Officer
$172K
Gordon Kevin K
Director
$137K
Insider Activity Analysis
Net Insider Sentiment
Moderately bullish with $367K net buying. Insiders show cautious optimism through measured share purchases.
Buy/Sell Ratio
Positive buy/sell ratio. Buying exceeds or matches selling, indicating net positive insider sentiment.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
Insider Activity Insight
Balanced insider activity: Roughly equal buying and selling suggests normal portfolio management rather than strong directional signals. Look to other metrics for clearer investment insights.
pgny Dividend History
Learning Layer
Related Guides
Build conviction on PGNY by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.