Squarepoint Ops LLC Purchases Shares of 59,139 Progyny, Inc. $PGNY

Key Points

• Squarepoint Ops LLC initiated a position in Progyny by purchasing 59,139 shares worth approximately $1.7 million, while institutional investors collectively own 94.93% of the company.
• Progyny reported stronger-than-expected quarterly results, with earnings of $0.55 per share versus the $0.33 consensus estimate and revenue of $350.51 million, up 5.3% year over year.
• The company approved a $200 million share-repurchase program covering up to 10.3% of outstanding shares. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.36, above the reported $27.76 share price.

Squarepoint Ops LLC purchased a new position in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,139 shares of the company's stock, valued at approximately $1,705,000. Squarepoint Ops LLC owned approximately 0.08% of Progyny as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Progyny in the second quarter valued at $29,000. Nykredit A S purchased a new stake in Progyny during the 2nd quarter worth about $38,000. Hantz Financial Services Inc. raised its position in Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock valued at $43,000 after purchasing an additional 742 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in Progyny in the 2nd quarter valued at about $65,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Progyny in the 4th quarter valued at about $94,000. Institutional investors and hedge funds own 94.93% of the company's stock.

Insiders Place Their Bets

In other Progyny news, Director Kevin Gordon sold 11,500 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total transaction of $321,310.00. Following the sale, the director owned 6,792 shares of the company's stock, valued at approximately $189,768.48. This trade represents a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.90% of the company's stock.

Progyny Stock Performance

NASDAQ:PGNY opened at $27.76 on Wednesday. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $33.06. The stock has a market cap of $2.13 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.92 and a beta of 0.99. The stock has a 50-day simple moving average of $28.59 and a 200-day simple moving average of $24.13.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.22. The business had revenue of $350.51 million for the quarter, compared to analyst estimates of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, equities research analysts predict that Progyny, Inc. will post 1.25 EPS for the current year.

Progyny declared that its board has approved a share buyback plan on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PGNY has been the topic of a number of recent research reports. Canaccord Genuity Group set a $35.00 target price on shares of Progyny in a research note on Friday, August 7th. Barclays decreased their price target on shares of Progyny from $34.00 to $30.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 12th. Leerink Partners set a $38.00 price target on shares of Progyny in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Progyny from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, KeyCorp raised their price objective on shares of Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Progyny has a consensus rating of "Moderate Buy" and an average target price of $34.36.

About Progyny

Progyny, Inc is a benefits management company that provides fertility and family-building solutions to employers and their employees. Its platform is designed to support individuals and couples pursuing fertility treatment, including in vitro fertilization, egg freezing, donor services, gestational surrogacy and adoption.

The company's services combine access to a network of fertility specialists with personalized guidance, care coordination and treatment support. Progyny also offers pharmacy benefits through Progyny Rx, helping members obtain and manage medications commonly used in fertility treatments.

Progyny primarily serves employer-sponsored benefit programs in the United States.

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