Sciencast Management LP Invests $711,000 in Progyny, Inc. $PGNY

Key Points

• Sciencast Management LP acquired a new stake in Progyny, Inc. worth approximately $711,000 during the first quarter, purchasing 31,847 shares.
• Progyny last reported earnings of $0.19 EPS, missing the consensus estimate of $0.42, but showing a revenue increase of 9.5% year-over-year, totaling $332.87 million.
• Analysts have given Progyny a consensus rating of "Moderate Buy" with an average target price of $25.30 following several price upgrades from firms like JPMorgan Chase and Canaccord Genuity.

Sciencast Management LP purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,847 shares of the company's stock, valued at approximately $711,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Progyny during the first quarter valued at approximately $44,000. Brooklyn Investment Group grew its holdings in Progyny by 5,216.4% in the 1st quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock valued at $72,000 after buying an additional 3,182 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Progyny by 233.9% in 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 during the last quarter. AlphaQuest LLC lifted its stake in Progyny by 57.9% during the 1st quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after acquiring an additional 2,079 shares in the last quarter. Finally, State of Wyoming lifted its stake in Progyny by 98.2% during the 4th quarter. State of Wyoming now owns 12,376 shares of the company's stock worth $213,000 after acquiring an additional 6,132 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Stock Down 2.8%

PGNY traded down $0.66 during midday trading on Friday, reaching $22.51. 801,637 shares of the company's stock were exchanged, compared to its average volume of 868,502. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76. The business has a 50-day simple moving average of $23.05 and a two-hundred day simple moving average of $22.21. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%.The company had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same quarter last year, the firm earned $0.17 EPS. The business's revenue for the quarter 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. As a group, research analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PGNY shares. JPMorgan Chase & Co. raised their price target on Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Canaccord Genuity Group upped their target price on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research note on Tuesday, July 8th. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.30.

Insider Activity at Progyny

In other Progyny news, EVP Allison Swartz sold 2,398 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the sale, the executive vice president owned 79,697 shares of the company's stock, valued at approximately $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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. Insiders have sold 7,895 shares of company stock valued at $179,311 over the last 90 days. Company insiders own 9.40% of the company's stock.

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.