Progyny, Inc. $PGNY Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management sharply reduced its Progyny position, cutting its stake by 74.6% in the fourth quarter and selling 126,757 shares.
• Insider selling has also been active, with COO Melissa B. Cummings and Director Cheryl Scott both trimming their holdings; insiders sold 36,916 shares worth about $939,875 in the last quarter.
• Progyny reported better-than-expected quarterly earnings of $0.50 per share and announced a $200 million stock buyback, while analysts maintain a consensus Moderate Buy rating with a $29.67 price target.

Intech Investment Management LLC cut its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 74.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,077 shares of the company's stock after selling 126,757 shares during the quarter. Intech Investment Management LLC's holdings in Progyny were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. increased its stake in shares of Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock worth $30,000 after acquiring an additional 819 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after acquiring an additional 742 shares during the last quarter. Quarry LP increased its stake in shares of Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock worth $77,000 after acquiring an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Progyny in the 2nd quarter worth $77,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Progyny in the 4th quarter worth $94,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Melissa B. Cummings sold 9,578 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $25.00, for a total transaction of $239,450.00. Following the transaction, the chief operating officer owned 73,371 shares of the company's stock, valued at approximately $1,834,275. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total value of $196,315.21. Following the transaction, the director directly owned 19,772 shares in the company, valued at approximately $521,783.08. The trade was a 27.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,916 shares of company stock worth $939,875 in the last quarter. Insiders own 9.90% of the company's stock.

Progyny Trading Up 1.5%

PGNY opened at $25.86 on Friday. The stock's 50-day moving average price is $20.58 and its 200 day moving average price is $22.30. Progyny, Inc. has a 12-month low of $16.10 and a 12-month high of $28.75. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.28 and a beta of 1.03.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.47 million. During the same quarter in the prior year, the company earned $0.17 EPS. 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. On average, research analysts forecast that Progyny, Inc. will post 1.07 earnings per share for the current year.

Progyny declared that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Progyny from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Citigroup reiterated an "outperform" rating on shares of Progyny in a report on Monday, May 11th. Truist Financial increased their price target on Progyny from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Canaccord Genuity Group upgraded Progyny from a "hold" rating to a "buy" rating and increased their price target for the stock from $19.00 to $30.00 in a report on Tuesday, May 19th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $30.00 price target on shares of Progyny in a report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

Progyny Company Profile

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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