Progyny, Inc. $PGNY Shares Bought by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management boosted its Progyny stake by 40.2% in the fourth quarter, buying an additional 60,912 shares and bringing its total holding to 212,612 shares worth about $5.46 million.
• Other institutional investors also increased positions, and 94.93% of Progyny’s stock is owned by hedge funds and other institutions, highlighting strong institutional interest in the company.
• Analysts are generally positive on the stock: Progyny has a Moderate Buy consensus with an average price target of $28.18, while the company recently beat earnings estimates and reported quarterly EPS of $0.29 versus the expected $0.26.

First Eagle Investment Management LLC raised its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 40.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,612 shares of the company's stock after purchasing an additional 60,912 shares during the period. First Eagle Investment Management LLC owned 0.25% of Progyny worth $5,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Progyny by 57.1% during the third quarter. Principal Financial Group Inc. now owns 704,267 shares of the company's stock valued at $15,156,000 after acquiring an additional 256,078 shares during the last quarter. Vanguard Group Inc. raised its stake in Progyny by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company's stock valued at $217,484,000 after purchasing an additional 235,513 shares during the last quarter. Algert Global LLC lifted its holdings in Progyny by 35.1% in the 3rd quarter. Algert Global LLC now owns 595,805 shares of the company's stock valued at $12,822,000 after purchasing an additional 154,930 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Progyny by 336.0% during the 3rd quarter. Intech Investment Management LLC now owns 169,834 shares of the company's stock worth $3,655,000 after purchasing an additional 130,885 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Progyny by 79.2% during the 3rd quarter. Barclays PLC now owns 1,575,470 shares of the company's stock worth $33,904,000 after purchasing an additional 696,447 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Citizens Jmp boosted their price target on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a report on Monday. JPMorgan Chase & Co. set a $35.00 price target on Progyny in a research note on Wednesday, January 21st. Truist Financial raised their price objective on Progyny from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Monday. Finally, Barclays lowered their price objective on Progyny from $29.00 to $23.00 and set an "overweight" rating for the company in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.18.

Insider Buying and Selling at Progyny

In related news, EVP Allison Swartz sold 4,657 shares of Progyny stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.40, for a total value of $81,031.80. Following the transaction, the executive vice president owned 89,879 shares in the company, valued at approximately $1,563,894.60. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 7,455 shares of company stock valued at $129,515. Company insiders own 9.90% of the company's stock.

Progyny Stock Performance

Progyny stock opened at $23.51 on Thursday. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $28.75. The firm has a 50 day moving average price of $18.16 and a 200 day moving average price of $21.80. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.25 and a beta of 0.91.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The company had revenue of $328.50 million for the quarter, compared to the consensus estimate of $326.47 million. During the same quarter last year, the firm posted $0.17 earnings per share. Progyny's revenue was down 26.4% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Sell-side analysts predict that Progyny, Inc. will post 1.12 EPS for the current year.

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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