Progyny, Inc. (PGNY)
Progyny, Inc. is a benefits management company specializing in fertility and family building solutions for employers. They offer comprehensive fertility benefits, pharmacy services, and surrogacy/adoption programs.
Company Overview
Progyny revolutionizes fertility benefits with its comprehensive, tech-enabled solutions, offering personalized support and integrated pharmacy services, driving significant value for employers and improved outcomes for members in the growing family-building market, reflected in its P/E ratio of 33.38.
Investment Thesis
Progyny presents a compelling investment opportunity due to its leading position in the rapidly growing fertility benefits market. The company's differentiated service model, which combines personalized support with a high-quality network of providers, drives superior clinical outcomes and cost savings for employers. With a profit margin of 4.5%, Progyny demonstrates its ability to generate value. Key growth catalysts include expanding its client base among large employers and increasing penetration within existing accounts. The increasing awareness of fertility benefits and the growing demand for family-building support are expected to fuel continued growth. Progyny's integrated pharmacy benefits solution, Progyny Rx, further enhances its value proposition and creates additional revenue streams.
Key Highlights
- Progyny operates with a beta of 0.97, indicating moderate volatility relative to the market.
- The company's P/E ratio stands at 33.38, reflecting investor expectations for future growth.
- Progyny's gross margin is 22.9%, showcasing its ability to generate revenue efficiently.
- The company's market capitalization is $1.89 billion, reflecting its significant presence in the fertility benefits market.
- Progyny's profit margin is 4.5%, demonstrating its ability to generate profits from its operations.
Competitors
Strengths
- Specialized focus on fertility benefits.
- Comprehensive and integrated service offering.
- Strong network of fertility specialists.
- Personalized concierge-style member support.
Weaknesses
- Reliance on employer-sponsored benefits.
- Limited geographic presence (primarily US).
- Relatively small market capitalization.
- Gross margin of 22.9% is relatively low.
Catalysts
- Upcoming: Expansion of Progyny Rx to more clients, driving revenue growth.
- Ongoing: Increasing awareness of fertility benefits among employers.
- Ongoing: Growing demand for family-building support from employees.
- Ongoing: Strategic partnerships with healthcare providers and benefits consultants.
Risks
- Potential: Increased competition in the fertility benefits market.
- Potential: Changes in healthcare regulations impacting fertility treatments.
- Potential: Economic downturn leading to reduced employer benefits spending.
- Ongoing: Reliance on a limited number of large clients.
- Ongoing: Adverse selection in fertility benefits plans.
Growth Opportunities
- Expanding Client Base: Progyny has the opportunity to expand its client base by targeting large employers across various industries. The market for employer-sponsored fertility benefits is growing, with more companies recognizing the value of offering these benefits to attract and retain talent. By focusing on strategic partnerships and targeted marketing efforts, Progyny can significantly increase its market share. The total addressable market for fertility benefits is estimated to be in the billions of dollars, providing ample room for growth. Timeline: Ongoing.
- Increasing Penetration within Existing Accounts: Progyny can increase revenue by expanding the services offered to existing clients. This includes promoting Progyny Rx, its integrated pharmacy benefits solution, and encouraging greater utilization of its surrogacy and adoption reimbursement programs. By demonstrating the value of these additional services, Progyny can strengthen its relationships with clients and increase its revenue per member. Timeline: Ongoing.
- Geographic Expansion: While currently focused on the United States, Progyny has the potential to expand its services internationally. The demand for fertility benefits is growing globally, and Progyny's expertise and technology can be adapted to serve employers and members in other countries. This expansion would require careful consideration of regulatory requirements and cultural differences, but it represents a significant long-term growth opportunity. Timeline: 3-5 years.
- Strategic Partnerships: Progyny can pursue strategic partnerships with other healthcare providers, technology companies, and benefits consultants to expand its reach and enhance its service offerings. These partnerships can provide access to new markets, technologies, and expertise, allowing Progyny to further differentiate itself from competitors and deliver greater value to its clients. Timeline: Ongoing.
- Technological Innovation: Progyny can continue to invest in technological innovation to improve the member experience, streamline operations, and enhance its data analytics capabilities. This includes developing new mobile apps, telehealth platforms, and artificial intelligence-powered tools to personalize fertility care and improve outcomes. By staying at the forefront of technological advancements, Progyny can maintain its competitive edge and attract new clients. Timeline: Ongoing.
Opportunities
- Expanding client base among large employers.
- Increasing penetration within existing accounts.
- Geographic expansion into international markets.
- Strategic partnerships with other healthcare providers.
Threats
- Increased competition from other benefits management companies.
- Changes in healthcare regulations.
- Economic downturn impacting employer benefits spending.
- Potential for adverse selection in fertility benefits plans.
Competitive Advantages
- Specialized Expertise: Progyny's deep expertise in fertility benefits management provides a competitive advantage.
- Integrated Solutions: The combination of personalized support, a selective network, and integrated pharmacy services creates a comprehensive and differentiated offering.
- Data Analytics: Progyny's ability to collect and analyze data on fertility treatments allows it to optimize care and improve outcomes.
- Established Network: The company's network of fertility specialists provides access to high-quality care for its members.
About
Progyny, Inc., established in 2008 and headquartered in New York City, has emerged as a leader in fertility and family building benefits solutions. Originally named Auxogyn, Inc., the company rebranded as Progyny in 2015 to reflect its expanded focus. Progyny partners with employers across the United States to provide comprehensive fertility benefits, including differentiated plan designs, personalized concierge-style member support, and a selective network of fertility specialists. These services are designed to improve outcomes and reduce the overall cost of fertility care. Progyny's core offering is its fertility benefits solution, which provides members with access to top-tier fertility clinics and specialists. The company also offers Progyny Rx, an integrated pharmacy benefits solution that streamlines access to fertility medications. Furthermore, Progyny provides surrogacy and adoption reimbursement programs, catering to a wide range of family-building needs. Progyny's commitment to innovation and patient-centric care has positioned it as a preferred partner for employers seeking to enhance their benefits packages and support their employees' family-building journeys.
What They Do
- Provide fertility benefits management services to employers.
- Offer personalized concierge-style member support.
- Maintain a selective network of fertility specialists.
- Provide integrated pharmacy benefits through Progyny Rx.
- Offer surrogacy and adoption reimbursement programs.
- Design differentiated benefits plans for fertility and family building.
Business Model
- Generate revenue through fees charged to employers for providing fertility benefits management services.
- Earn revenue from Progyny Rx, its integrated pharmacy benefits solution.
- Profit from managing the network of fertility specialists and negotiating favorable rates.
- Increase profitability through efficient operations and technology-driven solutions.
Industry Context
Progyny operates within the healthcare information services industry, specifically focusing on fertility benefits management. The market for fertility benefits is experiencing significant growth, driven by increasing awareness of infertility, rising employer interest in offering comprehensive benefits packages, and advancements in fertility treatments. The competitive landscape includes other benefits management companies and pharmacy benefit managers. Progyny differentiates itself through its specialized focus on fertility, its concierge-style member support, and its integrated pharmacy solution. The industry is expected to continue growing as more employers recognize the value of offering fertility benefits to attract and retain talent.
Key Customers
- Large employers seeking to enhance their benefits packages.
- Employees seeking fertility and family building support.
- Fertility clinics and specialists within the Progyny network.
- Individuals pursuing surrogacy and adoption.
Financials
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $313M | $14M | $0.15 |
| Q2 2025 | $333M | $17M | $0.19 |
| Q1 2025 | $324M | $15M | $0.17 |
| Q4 2024 | $298M | $11M | $0.11 |
Source: Company filings
Chart & Info
Price Chart
Progyny, Inc. (PGNY) stock price: $20.69 (+0.00, +0.00%)
Why Bull
- •Recent insider buying suggests confidence in Progyny's growth trajectory, indicating that executives believe in the company's future performance.
- •Community sentiment has shifted positively, with increased discussions around Progyny's innovative approach to fertility benefits attracting interest from potential clients.
- •The rising demand for fertility services post-pandemic has positioned Progyny favorably in a growing market, enhancing its visibility and appeal.
- •Progyny's partnerships with major employers have expanded, showcasing its value proposition and commitment to improving employee health outcomes.
Why Bear
- •Some analysts express caution over potential market saturation in the fertility benefits sector, raising concerns about long-term growth sustainability.
- •Recent discussions in the community reflect skepticism regarding the company's ability to maintain its competitive edge amidst increasing competition.
- •Concerns about regulatory changes in healthcare could impact Progyny's operational flexibility and profitability in the near term.
- •There is a perception that the stock may be overvalued based on its current performance, leading to hesitancy among potential investors.
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Technical Analysis
Rationale
AI-generated technical analysis for PGNY including trend direction, momentum, and pattern recognition.
What to Watch
Key support and resistance levels, volume signals, and upcoming events.
Risk Management
Position sizing, stop-loss levels, and risk-reward assessment.
Community
Discussion
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Sentiment
Community sentiment and discussion activity for PGNY.
Make a Prediction
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Current price: $20.69
Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PGNY.
Price Targets
Wall Street price target analysis for PGNY.
Insider Flow (30d)
MoonshotScore
Score Factors
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Revenue Growth 4/100
Revenue grew only 7.2% YoY, suggesting the company is in a slower growth phase.
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Gross Margin 6/100
Gross margin of 22.9% is acceptable but leaves limited room for R&D and marketing investment.
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Operating Leverage 4/100
Limited operating leverage due to slower revenue growth, keeping profit scaling constrained.
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Cash Runway 5/100
Cash position data is currently unavailable for this company.
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R&D Intensity 5/100
R&D spending data is currently unavailable for this company.
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Insider Activity 6/100
No significant insider buying or selling recently, which is neutral for the stock outlook.
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Short Interest 5/100
Float and volume data unavailable for liquidity analysis.
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Price Momentum 0/100
No bullish technical signals detected. The stock lacks upward price momentum currently.
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News Sentiment 5/100
No sentiment data available
What does this score mean?
The MoonshotScore rates PGNY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Competitors & Peers
Frequently Asked Questions
What does Progyny, Inc. do?
Progyny, Inc. is a benefits management company that specializes in providing fertility and family building benefits solutions to employers. The company offers a comprehensive suite of services, including differentiated benefits plan design, personalized concierge-style member support, and a selective network of fertility specialists. Progyny also provides Progyny Rx, an integrated pharmacy benefits solution, and surrogacy and adoption reimbursement programs. By partnering with employers, Progyny aims to improve outcomes and reduce the overall cost of fertility care for their employees, positioning itself as a key player in the healthcare information services industry.
Is PGNY stock a good buy?
Evaluating PGNY stock requires considering its growth potential in the expanding fertility benefits market, balanced against its current valuation. With a P/E ratio of 33.38, the stock reflects investor expectations for future growth. The company's differentiated service model and integrated pharmacy solution provide a competitive advantage. However, potential investors should also consider the risks associated with competition and changes in healthcare regulations. A thorough analysis of Progyny's financial performance, growth catalysts, and risk factors is essential before making an investment decision.
What are the main risks for PGNY?
Progyny faces several risks, including increased competition from other benefits management companies, potential changes in healthcare regulations impacting fertility treatments, and the possibility of an economic downturn leading to reduced employer benefits spending. The company's reliance on a limited number of large clients also poses a risk, as the loss of one or more of these clients could significantly impact revenue. Additionally, Progyny faces the risk of adverse selection in its fertility benefits plans, which could lead to higher costs and lower profitability. Careful monitoring of these risks is crucial for investors.
Is PGNY a good stock to buy?
Whether PGNY is a good investment depends on your financial goals, risk tolerance, and investment horizon. Key factors to evaluate include the company's revenue growth trajectory, profit margins, debt-to-equity ratio, competitive moat, and valuation multiples (P/E, P/S, EV/EBITDA) relative to industry peers. Our AI-generated Investment Thesis and SWOT analysis on this page provide a data-driven starting point. Always do your own research and consider consulting a financial advisor before making investment decisions.
What is the PGNY MoonshotScore?
The MoonshotScore for PGNY is an AI-powered rating from 0 to 100 that evaluates a stock across four dimensions: growth potential (revenue and earnings trajectory), financial health (balance sheet strength, cash flow), market momentum (price trends, volume patterns, institutional flows), and risk factors (volatility, debt levels, sector headwinds). Scores above 70 indicate strong potential, 50-70 moderate, and below 50 suggests caution. The score is recalculated daily using the latest financial data and market signals.
How often is PGNY data updated?
PGNY stock prices are updated in real-time during U.S. market hours (9:30 AM - 4:00 PM ET, Monday through Friday). After-hours and pre-market prices are also tracked. Company fundamentals (earnings, revenue, balance sheet) are refreshed when new quarterly or annual reports are filed. Analyst ratings, price targets, and AI-generated insights are updated daily. Breaking news related to PGNY is aggregated continuously from premium financial news sources throughout the day.
What are the growth catalysts for PGNY?
Growth catalysts for Progyny, Inc. (PGNY) can include several categories: product catalysts (new launches, FDA approvals, patent grants), financial catalysts (earnings beats, margin expansion, share buybacks), strategic catalysts (acquisitions, partnerships, market expansion into new regions), and macro catalysts (favorable regulation, industry tailwinds, secular growth trends). Our AI analyzes Progyny, Inc.'s specific catalysts using earnings transcripts, SEC filings, and news sentiment to identify the most impactful near-term and long-term drivers.
Who are PGNY's main competitors?
Progyny, Inc. (PGNY) competes with companies in its industry that target similar customers, markets, or product categories. Competitor analysis involves comparing key metrics: market share, revenue growth rates, profit margins, R&D spending, and valuation multiples. Understanding competitive positioning helps investors assess whether PGNY has a sustainable competitive advantage (moat) through brand strength, network effects, cost leadership, or switching costs. Our Competitors section provides a side-by-side comparison with relevant peers.
What do analysts say about PGNY?
Wall Street analyst coverage for PGNY includes consensus ratings (buy, hold, or sell), 12-month price targets, and earnings estimates. Analyst opinions are aggregated from major investment banks and research firms. Key metrics to watch include the consensus price target (average, high, and low estimates), the number of analysts covering the stock, any recent rating changes (upgrades or downgrades), and how actual earnings compare to analyst estimates (beat or miss history). Our platform aggregates these from multiple data providers for a comprehensive view.
What is PGNY's market cap?
Market capitalization (market cap) for PGNY is calculated by multiplying the current share price by the total number of outstanding shares. It represents the market's total valuation of the company. Stocks are typically categorized as mega-cap ($200B+), large-cap ($10B-$200B), mid-cap ($2B-$10B), small-cap ($300M-$2B), or micro-cap (under $300M). Market cap influences index inclusion, institutional ownership eligibility, and risk profile. Our Key Statistics section shows PGNY's current market cap alongside enterprise value and other valuation metrics.
How has PGNY stock performed recently?
PGNY's recent stock performance can be evaluated across multiple timeframes: daily price changes, week-over-week momentum, monthly trends, and year-to-date returns. Important performance indicators include the stock's 52-week high and low, moving averages (50-day and 200-day SMA), relative strength index (RSI), and volume trends. Comparing PGNY's performance against its sector index and the S&P 500 provides context on whether it is outperforming or underperforming the broader market.
What are the risks of investing in PGNY?
Key risk categories for PGNY include: market risk (overall market downturns affecting stock prices), company-specific risk (management changes, product failures, competitive threats), financial risk (high debt levels, cash burn, dilution from stock issuance), regulatory risk (government policy changes, lawsuits, compliance issues), and macroeconomic risk (interest rate changes, inflation, currency fluctuations). Beta measures PGNY's volatility relative to the market - a beta above 1.0 means higher volatility than the S&P 500. Our AI-generated risk assessment identifies the most relevant risk factors for this specific stock.
Are insiders buying or selling PGNY?
Insider trading activity for PGNY tracks purchases and sales by company executives, directors, and major shareholders (10%+ owners) as reported in SEC Form 4 filings. Insider buying is generally considered a bullish signal because insiders have the deepest knowledge of company operations, while selling may have various motivations (diversification, tax planning, pre-planned 10b5-1 trading plans). Key metrics include the buy-to-sell ratio, total dollar value of insider transactions, and whether multiple insiders are trading in the same direction. Our Insider Flow tab shows recent transactions with dates and dollar amounts.
Is PGNY a good stock for beginners?
Progyny, Inc. (PGNY) can be suitable for beginner investors depending on several factors. Look at the MoonshotScore on this page for an overall AI-powered assessment of growth potential and risk. Beginners should also check the company's market cap (larger companies tend to be less volatile), gross margin (higher margins mean stronger business fundamentals), and cash position (healthy cash reduces bankruptcy risk). Always start with a small position size and never invest money you cannot afford to lose.
How risky is PGNY for first-time investors?
Every stock carries risk, including Progyny, Inc. (PGNY). First-time investors should review the Risk Factors section on this page for company-specific risks. Key risk indicators include price volatility (check the chart for daily swings), insider selling activity (see Insider Flow tab), and cash runway (see MoonshotScore breakdown). A diversified portfolio with an index fund like the S&P 500 as a core holding is generally recommended before adding individual stocks like PGNY.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Data provided for informational purposes only.
- Financial data is based on the most recently available information.
- Future performance is subject to market conditions and company-specific factors.