Public Sector Pension Investment Board Buys 50,349 Shares of Progyny, Inc. $PGNY

Key Points

• Public Sector Pension Investment Board increased its stake in Progyny, Inc. by 27.3% in Q1, now owning 234,968 shares worth approximately $5.25 million.
• Progyny recently reported $332.87 million in revenue for the quarter, exceeding the consensus estimate, but EPS of $0.19 missed expectations significantly.
• Analysts have mostly positive outlooks for Progyny, with multiple firms raising their price targets to as high as $28.00 and issuing buy or outperform ratings.

Public Sector Pension Investment Board boosted its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 27.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 234,968 shares of the company's stock after purchasing an additional 50,349 shares during the period. Public Sector Pension Investment Board owned about 0.27% of Progyny worth $5,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PGNY. Natixis bought a new position in Progyny during the 4th quarter valued at $69,000. GAMMA Investing LLC boosted its stake in Progyny by 233.9% during the 1st 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. State of Wyoming boosted its stake in Progyny by 98.2% during the 4th 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. Cerity Partners LLC bought a new stake in shares of Progyny during the 4th quarter worth $229,000. Finally, XTX Topco Ltd bought a new stake in shares of Progyny during the 1st quarter worth $241,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the sale, the director owned 14,112 shares of the company's stock, valued at $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction of $55,100.00. Following the completion of the sale, the director directly owned 12,501 shares in the company, valued at approximately $275,522.04. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. 9.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PGNY shares. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a research note on Tuesday, July 8th. Truist Financial raised their price objective on Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Raymond James Financial set a $28.00 price objective on Progyny in a research note on Friday, August 8th. Finally, Canaccord Genuity Group reduced their price objective on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

Progyny Price Performance

Shares of Progyny stock traded down $1.04 on Tuesday, hitting $22.74. 1,435,764 shares of the company's stock traded hands, compared to its average volume of 1,114,761. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76. The firm's 50-day moving average price is $22.45 and its two-hundred day moving average price is $22.17. The stock has a market capitalization of $1.96 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32.

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

Progyny Company 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.