Millennium Management LLC Acquires 90,367 Shares of Progyny, Inc. $PGNY

Key Points

• Millennium Management LLC increased its stake in Progyny, Inc. by 7.5%, acquiring an additional 90,367 shares, bringing their total ownership to 1,302,890 shares valued at approximately $29.1 million.
• Progyny reported a net revenue of $332.87 million for the latest quarter, exceeding analysts' expectations, although its earnings per share of $0.19 fell short of the consensus estimate of $0.42.
• Several analysts have raised price targets for Progyny, with Truist Financial setting a new target of $27.00, indicating a positive outlook for the stock.

Millennium Management LLC increased its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 7.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,302,890 shares of the company's stock after buying an additional 90,367 shares during the period. Millennium Management LLC owned about 1.52% of Progyny worth $29,107,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PGNY. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Progyny during the 1st quarter worth about $44,000. Brooklyn Investment Group grew its position in Progyny by 5,216.4% during the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock valued at $72,000 after purchasing an additional 3,182 shares in the last quarter. GAMMA Investing LLC grew its position in Progyny by 233.9% during the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock valued at $120,000 after purchasing an additional 3,768 shares in the last quarter. AlphaQuest LLC grew its position in Progyny by 57.9% during the first quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock valued at $127,000 after purchasing an additional 2,079 shares in the last quarter. Finally, State of Wyoming grew its position in Progyny by 98.2% during the fourth quarter. State of Wyoming now owns 12,376 shares of the company's stock valued at $213,000 after purchasing an additional 6,132 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on PGNY shares. Leerink Partners raised shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research report on Tuesday, July 8th. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Truist Financial lifted their target price on shares of Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial set a $28.00 target price on shares of Progyny in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.30.

Progyny Stock Performance

Shares of Progyny stock traded up $0.14 on Wednesday, reaching $21.91. The stock had a trading volume of 115,408 shares, compared to its average volume of 1,364,879. The stock has a market cap of $1.88 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $26.76. The business's 50-day moving average price is $23.02 and its two-hundred day moving average price is $22.20.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). The company had revenue of $332.87 million for the quarter, compared to analyst estimates of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. Progyny's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. As a group, equities analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In related news, Director Kevin K. Gordon sold 2,500 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.04, for a total transaction of $55,100.00. Following the completion of the transaction, the director directly owned 12,501 shares in the company, valued at $275,522.04. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allison Swartz sold 2,398 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the transaction, the executive vice president owned 79,697 shares of the company's stock, valued at approximately $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,895 shares of company stock valued at $179,311. Corporate insiders own 9.40% of the company's stock.

Progyny Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.