BlackRock Inc. Invests $334.43 Million in Progyny, Inc. $PGNY

Key Points

• BlackRock acquired 11.6 million Progyny shares worth approximately $334.4 million, giving it a 14.81% stake. Institutional investors collectively own 94.93% of the company.
• Progyny exceeded quarterly expectations, reporting EPS of $0.55 versus the $0.33 consensus and revenue of $350.5 million, up 5.3% year over year. The company issued third-quarter and full-year 2026 EPS guidance.
• The board authorized a $200 million share-repurchase program, while analysts maintain a “Moderate Buy” consensus with an average price target of $33.91.

BlackRock Inc. acquired a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,599,921 shares of the company's stock, valued at approximately $334,426,000. BlackRock Inc. owned approximately 14.81% of Progyny at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PGNY. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Progyny during the 4th quarter worth $25,000. Hantz Financial Services Inc. increased its holdings in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock valued at $43,000 after buying an additional 742 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Progyny in the second quarter valued at $77,000. Quarry LP raised its stake in Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after buying an additional 3,427 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Progyny during the 4th quarter worth about $94,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 7,439 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director directly owned 19,772 shares in the company, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark S. Livingston sold 2,517 shares of Progyny stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.50, for a total transaction of $64,183.50. Following the completion of the transaction, the chief financial officer directly owned 74,688 shares in the company, valued at $1,904,544. The trade was a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,563 shares of company stock valued at $351,968 over the last ninety days. 9.90% of the stock is owned by insiders.

Progyny Stock Performance

PGNY opened at $26.37 on Thursday. Progyny, Inc. has a one year low of $16.10 and a one year high of $33.06. The stock has a market capitalization of $2.02 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The business's 50-day simple moving average is $29.08 and its 200-day simple moving average is $23.58.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. The firm had revenue of $350.51 million during the quarter, compared to analysts' expectations of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The business's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. 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, equities research analysts forecast that Progyny, Inc. will post 1.19 EPS for the current fiscal year.

Progyny announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Progyny from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. Leerink Partners set a $38.00 target price on Progyny in a research note on Wednesday, July 22nd. Citizens Jmp increased their price target on shares of Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a research note on Monday, May 11th. BTIG Research raised their price objective on shares of Progyny from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, KeyCorp boosted their price objective on shares of Progyny from $30.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.91.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company's digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny's offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.

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