Progyny, Inc. $PGNY Position Lessened by Thematics Asset Management

Key Points

• Thematics Asset Management reduced its stake in Progyny, Inc. by 28.3%, now holding 80,655 shares worth approximately $1.8 million, following the sale of 31,831 shares in Q1.
• Several hedge funds, such as Voloridge Investment Management and Wellington Management Group, made significant increases to their holdings, indicating fluctuating institutional interest.
• Progyny reported Q2 earnings of $0.19 EPS, missing expectations, despite a revenue increase to $332.87 million and a year-over-year growth rate of 9.5%.

Thematics Asset Management decreased its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,655 shares of the company's stock after selling 31,831 shares during the period. Thematics Asset Management owned 0.09% of Progyny worth $1,802,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Voloridge Investment Management LLC lifted its holdings in shares of Progyny by 85.5% in the 4th quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock worth $20,665,000 after purchasing an additional 552,066 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Progyny by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,027 shares of the company's stock worth $20,458,000 after purchasing an additional 74,740 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Progyny by 3.7% in the 4th quarter. Bank of America Corp DE now owns 952,777 shares of the company's stock worth $16,435,000 after purchasing an additional 33,668 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Progyny by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 689,443 shares of the company's stock worth $15,402,000 after purchasing an additional 51,810 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Progyny by 67.7% in the 1st quarter. Wellington Management Group LLP now owns 660,982 shares of the company's stock worth $14,766,000 after purchasing an additional 266,853 shares during the last quarter. Institutional investors own 94.93% of the company's stock.

Progyny Stock Performance

PGNY opened at $23.53 on Monday. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76. The stock's fifty day moving average is $22.55 and its 200-day moving average is $22.17. The company has a market capitalization of $2.02 billion, a PE ratio of 39.88, a P/E/G ratio of 1.92 and a beta of 1.32.

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

Analyst Ratings Changes

PGNY has been the topic of several recent analyst reports. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research note on Tuesday, July 8th. Canaccord Genuity Group lifted their target price on Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price (up previously from $26.00) on shares of Progyny in a research note on Friday, August 8th. Finally, Truist Financial lifted their target price on Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Progyny presently has an average rating of "Moderate Buy" and an average price target of $25.10.

Insiders Place Their Bets

In other news, 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 value of $55,100.00. Following the sale, the director owned 12,501 shares of the company's stock, valued at approximately $275,522.04. The trade was a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the sale, the director directly owned 14,112 shares in the company, valued at $311,451.84. This represents a 15.93% decrease in their position. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by insiders.

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.

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