Corient Private Wealth LP purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 109,939 shares of the company's stock, valued at approximately $3,170,000. Corient Private Wealth LP owned approximately 0.14% of Progyny at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Progyny by 384.8% during the first quarter. Royal Bank of Canada now owns 13,027 shares of the company's stock worth $291,000 after purchasing an additional 10,340 shares during the last quarter. Amundi grew its holdings in Progyny by 103.8% in the first quarter. Amundi now owns 11,419 shares of the company's stock valued at $264,000 after purchasing an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Progyny by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company's stock valued at $5,630,000 after purchasing an additional 14,297 shares during the last quarter. Invesco Ltd. increased its position in shares of Progyny by 37.4% in the second quarter. Invesco Ltd. now owns 379,189 shares of the company's stock valued at $8,342,000 after buying an additional 103,253 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of Progyny by 6.9% in the second quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock valued at $266,000 after buying an additional 780 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Progyny
In other news, CFO Mark S. Livingston sold 2,517 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.50, for a total value of $64,183.50. Following the completion of the transaction, the chief financial officer owned 74,688 shares of the company's stock, valued at $1,904,544. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts recently commented on PGNY shares. Barclays decreased their price objective on shares of Progyny from $34.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 12th. Canaccord Genuity Group set a $35.00 target price on shares of Progyny in a report on Friday, August 7th. KeyCorp lifted their target price 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. Truist Financial upped their price target on shares of Progyny from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company started coverage on shares of Progyny in a research report on Thursday, August 20th. They issued an "overweight" rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Progyny currently has an average rating of "Moderate Buy" and a consensus price target of $33.91.
Read Our Latest Report on PGNY
Progyny Stock Up 0.3%
Shares of NASDAQ:PGNY opened at $25.66 on Wednesday. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $33.06. The stock's fifty day simple moving average is $29.04 and its 200-day simple moving average is $23.70. The company has a market capitalization of $1.97 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.77 and a beta of 1.01.
Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping 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 firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $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, sell-side analysts anticipate that Progyny, Inc. will post 1.25 earnings per share for the current year.
Progyny declared that its Board of Directors has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.
About Progyny
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PGNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progyny, Inc. (NASDAQ:PGNY - Free Report).
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