Progyny, Inc. $PGNY Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Progyny, Inc. by 103.8% during Q1, now owning 103,014 shares worth approximately $2.3 million.
• Progyny's stock has received multiple upgrades, with analysts setting a consensus price target of $25.10 and a majority rating it as a Moderate Buy.
• The company reported earnings of $0.19 EPS for the latest quarter, missing estimates but achieving a revenue of $332.87 million, up 9.5% year-over-year.

Russell Investments Group Ltd. raised its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 103.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,014 shares of the company's stock after acquiring an additional 52,466 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Progyny worth $2,301,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Progyny by 233.9% in the first 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 during the last quarter. State of Wyoming increased its stake in Progyny by 98.2% in the fourth 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 during the last quarter. XTX Topco Ltd acquired a new position in Progyny in the first quarter valued at $241,000. Corton Capital Inc. acquired a new position in Progyny in the fourth quarter valued at $264,000. Finally, FORA Capital LLC acquired a new position in Progyny in the fourth quarter valued at $272,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progyny

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

Analysts Set New Price Targets

Several research firms recently commented on PGNY. Truist Financial upped 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. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target for the company in a research report on Tuesday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price target (up previously from $26.00) on shares of Progyny in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Progyny presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.30.

Progyny Stock Up 1.0%

Shares of NASDAQ PGNY traded up $0.23 on Thursday, hitting $23.25. The company had a trading volume of 647,896 shares, compared to its average volume of 1,180,988. The firm has a market capitalization of $2.00 billion, a P/E ratio of 39.41, a PEG ratio of 1.88 and a beta of 1.32. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $26.76. The business has a 50 day moving average of $22.67 and a two-hundred day moving average of $22.19.

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

About Progyny

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.