Deutsche Bank AG Takes Position in Progyny, Inc. $PGNY

Key Points

• Deutsche Bank initiated a position in Progyny during the second quarter, purchasing 71,104 shares valued at approximately $2.05 million. Institutional investors collectively own 94.93% of the company.
• Progyny beat quarterly earnings expectations, reporting $0.55 EPS versus the $0.33 consensus estimate, while revenue rose 5.3% year over year to $350.51 million. The company also authorized a $200 million share-repurchase program covering up to 10.3% of outstanding shares.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $33.91; recent targets range as high as $40.

Deutsche Bank AG purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 71,104 shares of the company's stock, valued at approximately $2,050,000. Deutsche Bank AG owned 0.09% of Progyny as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Progyny in the second quarter valued at about $11,932,000. State of Wyoming acquired a new position in Progyny during the 2nd quarter worth approximately $830,000. GSA Capital Partners LLP purchased a new position in shares of Progyny during the 2nd quarter worth approximately $254,000. Versant Capital Management Inc raised its stake in shares of Progyny by 53.3% during the 2nd quarter. Versant Capital Management Inc now owns 4,330 shares of the company's stock worth $125,000 after buying an additional 1,506 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Progyny by 49.4% in the 1st quarter. Pacer Advisors Inc. now owns 435,558 shares of the company's stock valued at $7,396,000 after buying an additional 144,073 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Trading Up 0.5%

Shares of PGNY stock opened at $26.00 on Friday. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.78 and a beta of 1.01. The firm has a 50-day moving average price of $29.08 and a 200 day moving average price of $23.63.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The business had revenue of $350.51 million during the quarter, compared to analyst estimates of $349.05 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. As a group, research analysts predict that Progyny, Inc. will post 1.25 earnings per share for the current year.

Progyny announced that its board has initiated a stock repurchase program on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Progyny

In related news, EVP Allison Swartz sold 1,199 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $25.02, for a total value of $29,998.98. Following the transaction, the executive vice president directly owned 83,316 shares of the company's stock, valued at approximately $2,084,566.32. This trade represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the sale, the insider directly owned 59,117 shares of the company's stock, valued at approximately $1,512,212.86. This trade represents a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,563 shares of company stock valued at $351,968. Corporate insiders own 9.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PGNY. KeyCorp lifted their price target on Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Citizens Jmp increased their price objective on Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a research report on Monday, May 11th. Zacks Research raised Progyny from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Citigroup restated an "outperform" rating on shares of Progyny in a research report on Monday, May 11th. Finally, BTIG Research upped their price target on shares of Progyny from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Progyny has a consensus rating of "Moderate Buy" and an average target price of $33.91.

Progyny 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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