Progyny, Inc. (PGNY)

In the past six months, Progyny's stock price has been impacted by several events. The stock decreased by 7.6% to $23.72 as of May 9, 2026, after trading at $25.68 at the beginning of 2026. The stock hit a new 52-week low near $16.10 in April 2026, extending a year-to-date slide of over 36% due to disappointing fiscal 2026 guidance. However, the stock saw a significant jump of 17.5% in May 2026 after the company reported first-quarter 2026 financial results that surpassed analyst expectations and raised its full-year guidance. Progyny reported record Q1 2026 revenue of $328.5 million and adjusted earnings of $0.50 per share, and completed a $200 million share repurchase program.

Progyny experiences typical seasonal patterns in member engagement, which tend to pace consistently with these seasonal patterns following the start of the year. The company's guidance for the second quarter and the remainder of 2026 reflects these typical seasonal patterns, although it also accounts for the potential of variability in activity and treatments. The early stages of the 2026 selling and renewal season have shown healthy activity, with overall pipeline and new pipeline build substantially favorable compared to a year ago, and early commitments pacing ahead of last year.

Progyny, Inc. is a benefits management company specializing in fertility, family building, and women's health solutions in the United States. Progyny's core offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional, and logistical support for fertility treatments. Beyond fertility, Progyny also provides Progyny Rx, an integrated pharmacy benefits solution for fertility medications, and offers solutions for pregnancy and postpartum, menopause and midlife, benefit and leave navigation, and parent and child well-being. Additionally, the company provides an assistance service program that includes reimbursement for services like adoption, surrogacy, doula, and travel for medical services. Progyny partners with employers and health plans to design and administer these comprehensive family-building programs, utilizing a digital health platform that integrates clinical expertise, patient support tools, and data analytics.

Progyny's services are primarily available throughout the United States, with its corporate clients spanning various sectors including technology, finance, and manufacturing. The company is headquartered in New York, New York, and maintains additional offices in major U.S. markets. Progyny has an in-house network of fertility specialists and clinics across the U.S., with over 600 clinic locations and 800 providers in its network as of early 2021. While primarily U.S.-focused, Progyny also has a subsidiary named Progyny Global, founded in 2019 and located in Berlin, Germany.

Progyny has a strong brand reputation, recognized for its leadership and growth. The company has been listed among TIME100 Most Influential Companies, CNBC Disruptor 50, Fortune's Best Workplaces in Healthcare in 2024, Modern Healthcare's Best Places to Work in Healthcare, and Forbes' Best Employers. Progyny emphasizes its data-driven model, which it states leads to superior clinical outcomes, cost savings, and exceptional member experiences. In the past year, Progyny has continued to expand access to fertility and women's health with the introduction of the industry's first fully insured supplemental plan, commemorated 10 years of redefining women's health and family building care, and presented new fertility research at the HHS National Conference on Women's Health.

Progyny's ownership is predominantly institutional, with institutional investors holding approximately 94.93% to 95% of the shares. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, Fmr Llc, State Street Corp, Fort Washington Investment Advisors Inc. OH, Ameriprise Financial Inc, Wellington Management Group Llp, Citadel Advisors Llc, Geode Capital Management, Llc, and Dimensional Fund Advisors Lp. Insider ownership is modest, holding about 9.90% of the stock, and in the past three months, Progyny insiders have sold more company stock than they have bought.