Jupiter Asset Management Ltd. Purchases 121,233 Shares of Progyny, Inc. $PGNY

Key Points

• Jupiter Asset Management increased its stake in Progyny by 24.3% in the fourth quarter, buying 121,233 shares and bringing its total holding to 620,216 shares worth about $15.9 million.
• Progyny reported strong quarterly earnings, posting $0.50 EPS versus $0.26 expected and revenue of $328.5 million, though revenue was still down 26.4% year over year.
• The company’s board approved a $200 million share repurchase program, while Wall Street sentiment remains upbeat with a Moderate Buy rating and an average price target of $29.55.

Jupiter Asset Management Ltd. lifted its position in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,216 shares of the company's stock after purchasing an additional 121,233 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.72% of Progyny worth $15,927,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PGNY. Royal Bank of Canada increased its holdings in shares of Progyny by 384.8% in 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 increased its holdings in shares of Progyny by 103.8% in the first quarter. Amundi now owns 11,419 shares of the company's stock worth $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 increased its holdings in shares of 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 worth $5,630,000 after purchasing an additional 14,297 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Progyny by 37.4% in the second quarter. Invesco Ltd. now owns 379,189 shares of the company's stock worth $8,342,000 after purchasing an additional 103,253 shares during the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Progyny by 6.9% in the second quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock worth $266,000 after purchasing an additional 780 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

Progyny Stock Performance

PGNY opened at $25.56 on Friday. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 1.37 and a beta of 0.91. The stock's 50 day moving average price is $19.83 and its 200-day moving average price is $22.25. Progyny, Inc. has a one year low of $16.10 and a one year high of $28.75.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.24. The firm had revenue of $328.50 million for the quarter, compared to analysts' expectations of $326.47 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company's quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, analysts predict that Progyny, Inc. will post 1.12 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PGNY shares. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Truist Financial boosted their price objective on Progyny from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Jefferies Financial Group reissued a "buy" rating and set a $30.00 price objective on shares of Progyny in a research note on Friday, March 6th. Citizens Jmp boosted their price objective on Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a research note on Monday, May 11th. Finally, Zacks Research raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. 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 company's stock. Based on data from MarketBeat, Progyny has an average rating of "Moderate Buy" and an average price target of $29.55.

Insiders Place Their Bets

In related news, Director Kevin K. Gordon sold 5,500 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the sale, the director owned 9,318 shares in the company, valued at approximately $232,856.82. The trade was a 37.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allison Swartz sold 4,657 shares of the business'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 of the company's stock, valued at $1,563,894.60. The trade was a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 30,808 shares of company stock worth $717,422. Corporate insiders own 9.90% of the company's stock.

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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