Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Progyny, Inc. $PGNY

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Progyny, buying 70,312 shares worth about $1.81 million in the fourth quarter.
• Several analysts remain constructive on Progyny, with firms like KeyCorp, Barclays, Truist, and Citigroup issuing or maintaining positive ratings. The stock currently carries a Moderate Buy consensus and a price target of $29.55.
• Progyny’s latest earnings beat expectations, with EPS of $0.29 versus the $0.26 estimate and revenue of $328.5 million. However, revenue still fell 26.4% from a year earlier, while insiders also sold shares during the quarter.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 70,312 shares of the company's stock, valued at approximately $1,806,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.08% of Progyny at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock valued at $30,000 after acquiring an additional 819 shares during the period. Covestor Ltd increased its holdings in shares of Progyny by 164.9% in the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company's stock valued at $56,000 after acquiring an additional 1,624 shares during the period. Quarry LP increased its holdings in shares of Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after acquiring an additional 3,427 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Progyny in the 2nd quarter valued at $77,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Progyny by 203.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,021 shares of the company's stock valued at $154,000 after acquiring an additional 4,708 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Progyny in a report on Friday, March 27th. KeyCorp lowered their price objective on Progyny from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Barclays raised their price objective on Progyny from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Truist Financial raised their price objective on Progyny from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Finally, Citigroup reissued an "outperform" rating on shares of Progyny in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.55.

Insider Activity at Progyny

In related news, CFO Mark S. Livingston sold 8,275 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $25.50, for a total value of $211,012.50. Following the sale, the chief financial officer owned 79,063 shares in the company, valued at $2,016,106.50. This represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Allison Swartz sold 4,657 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.40, for a total value of $81,031.80. Following the completion of the sale, the executive vice president owned 89,879 shares in the company, valued at approximately $1,563,894.60. This represents a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 25,308 shares of company stock worth $579,977 over the last quarter. Insiders own 9.90% of the company's stock.

Progyny Price Performance

Progyny stock opened at $24.88 on Friday. The business has a fifty day moving average price of $19.06 and a 200-day moving average price of $22.03. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $28.75. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 1.32 and a beta of 0.91.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company had revenue of $328.50 million during the quarter, compared to analysts' expectations of $326.47 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm's revenue was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. On average, equities research analysts anticipate that Progyny, Inc. will post 1.12 earnings per share for the current fiscal year.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.