Bayforest Capital Ltd Invests $344,000 in Progyny, Inc. $PGNY

Key Points

• Bayforest Capital Ltd invested $344,000 in Progyny, Inc., acquiring 15,392 shares in the first quarter.
• Progyny's stock is currently valued at $22.63, reflecting a 1.5% decrease in value, with a market cap of $1.95 billion.
• After missing quarterly earnings expectations, Progyny has set guidance projecting EPS for FY 2025 between 1.700-1.780.

Bayforest Capital Ltd acquired a new position in Progyny, Inc. (NASDAQ:PGNY - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 15,392 shares of the company's stock, valued at approximately $344,000.

A number of other large investors have also recently made changes to their positions in the business. Millennium Management LLC grew its position in shares of Progyny by 7.5% in the 1st quarter. Millennium Management LLC now owns 1,302,890 shares of the company's stock worth $29,107,000 after buying an additional 90,367 shares during the last quarter. Voloridge Investment Management LLC grew its position in shares of Progyny by 85.5% in the 4th quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock worth $20,665,000 after buying an additional 552,066 shares during the last quarter. Bank of America Corp DE grew its position in shares of Progyny by 3.7% in the 4th quarter. Bank of America Corp DE now owns 952,777 shares of the company's stock worth $16,435,000 after buying an additional 33,668 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Progyny by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 689,443 shares of the company's stock worth $15,402,000 after buying an additional 51,810 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Progyny by 67.7% in the 1st quarter. Wellington Management Group LLP now owns 660,982 shares of the company's stock worth $14,766,000 after buying an additional 266,853 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progyny

In other news, EVP Allison Swartz sold 2,398 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total value of $55,058.08. Following the completion of the transaction, the executive vice president owned 79,697 shares in the company, valued at $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.04, for a total value of $55,100.00. Following the completion of the transaction, the director owned 12,501 shares of the company's stock, valued at $275,522.04. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,895 shares of company stock worth $179,311 over the last three months. Corporate insiders own 9.40% of the company's stock.

Progyny Trading Down 2.8%

Progyny stock traded down $0.66 during mid-day trading on Friday, hitting $22.51. The company had a trading volume of 801,637 shares, compared to its average volume of 878,929. The stock's 50 day moving average price is $23.05 and its two-hundred day moving average price is $22.21. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $26.76. The company has a market capitalization of $1.94 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 1.89 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%.The company had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same period last year, the firm posted $0.17 earnings per share. The company's revenue was up 9.5% compared to the same quarter last year. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. Equities research analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PGNY shares. Truist Financial lifted their price target on Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Canaccord Genuity Group lifted their price target on Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $25.30.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions 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.