Tocqueville Asset Management L.P. Takes Position in Progyny, Inc. $PGNY

Key Points

• Tocqueville Asset Management initiated a 84,000-share position in Progyny valued at approximately $2.42 million, while institutional investors collectively own 94.93% of the company.
• Progyny exceeded quarterly expectations, reporting $0.55 in earnings per share versus the $0.33 consensus estimate and $350.51 million in revenue, up 5.3% year over year.
• The company authorized a $200 million share repurchase program, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.36.

Tocqueville Asset Management L.P. purchased a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 84,000 shares of the company's stock, valued at approximately $2,422,000. Tocqueville Asset Management L.P. owned 0.11% of Progyny as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Progyny by 384.8% during the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company's stock worth $291,000 after purchasing an additional 10,340 shares during the period. Amundi lifted its holdings in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company's stock worth $264,000 after buying an additional 5,817 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company's stock worth $5,630,000 after buying an additional 14,297 shares during the period. Invesco Ltd. grew its position in shares of Progyny by 37.4% during the 2nd quarter. Invesco Ltd. now owns 379,189 shares of the company's stock worth $8,342,000 after buying an additional 103,253 shares in the last quarter. Finally, Walleye Capital LLC grew its position in shares of Progyny by 6.9% during the 2nd quarter. Walleye Capital LLC now owns 12,080 shares of the company's stock worth $266,000 after buying an additional 780 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $25.96 on Friday. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $33.06. The business has a fifty day moving average price of $29.15 and a 200 day moving average price of $23.50. The stock has a market capitalization of $1.99 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. The company 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 firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. As a group, equities research analysts anticipate that Progyny, Inc. will post 1.19 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several recent research reports. Citizens Jmp lifted their price objective on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a report on Monday, May 11th. Barclays dropped their target price on shares of Progyny from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. Bank of America raised their target price on shares of Progyny from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Leerink Partners set a $38.00 price target on shares of Progyny in a report on Wednesday, July 22nd. Finally, Truist Financial upped their price target on shares of Progyny from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Progyny currently has a consensus rating of "Moderate Buy" and an average price target of $34.36.

Insiders Place Their Bets

In other news, CFO Mark S. Livingston sold 2,517 shares of Progyny stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.50, for a total value of $64,183.50. Following the transaction, the chief financial officer owned 74,688 shares of the company's stock, valued at $1,904,544. The trade was a 3.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director owned 19,772 shares of the company's stock, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,063 shares of company stock worth $489,413. Insiders own 9.90% of the company's stock.

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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