OMERS ADMINISTRATION Corp Invests $2.27 Million in Progyny, Inc. $PGNY

Key Points

• OMERS Administration Corp. acquired 78,605 Progyny shares worth approximately $2.27 million during the second quarter, giving it a 0.10% stake. Institutional investors collectively own 94.93% of the company.
• Analysts maintain a favorable outlook, with Progyny carrying a consensus “Moderate Buy” rating and an average price target of $33.91. Recent actions included a Zacks upgrade to “Strong Buy” and KeyCorp raising its target to $35.
• Progyny exceeded quarterly earnings expectations, reporting $0.55 EPS versus a $0.33 consensus estimate and $350.51 million in revenue. The company also authorized a $200 million share-repurchase program, covering up to 10.3% of outstanding shares.

OMERS ADMINISTRATION Corp acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,605 shares of the company's stock, valued at approximately $2,266,000. OMERS ADMINISTRATION Corp owned 0.10% of Progyny as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company's stock valued at $291,000 after purchasing an additional 10,340 shares during the period. Amundi lifted its holdings in shares of 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Progyny by 6.0% during 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 buying an additional 14,297 shares during the period. Invesco Ltd. grew its holdings in shares of Progyny by 37.4% during the second quarter. Invesco Ltd. now owns 379,189 shares of the company's stock worth $8,342,000 after buying an additional 103,253 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of Progyny by 6.9% during the second quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock worth $266,000 after buying an additional 780 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of recent research reports. Zacks Research raised Progyny from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a report on Friday, August 7th. Wall Street Zen cut shares of Progyny from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. KeyCorp raised their target price on shares of Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Progyny from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.91.

Progyny Stock Up 2.1%

NASDAQ:PGNY opened at $26.37 on Thursday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The stock's 50 day moving average price is $29.08 and its two-hundred day moving average price is $23.58.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. The company had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. As a group, analysts anticipate that Progyny, Inc. will post 1.19 earnings per share for the current year.

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

About Progyny

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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