UBS Group AG Cuts Position in Progyny, Inc. $PGNY

Key Points

• UBS Group AG cut its stake in Progyny by 47% in the fourth quarter, leaving it with 129,087 shares worth about $3.3 million. Despite the sale, institutional investors still own about 94.93% of the company.
• Progyny’s latest earnings beat expectations, with quarterly EPS of $0.29 versus the $0.26 estimate and revenue of $328.5 million, slightly above forecasts. However, revenue was still down 26.4% year over year.
• Analysts remain cautiously bullish on PGNY, with a consensus rating of “Moderate Buy” and an average price target of $29.55. Several firms recently raised targets, while insiders also sold shares under pre-arranged trading plans.

UBS Group AG lessened its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 47.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,087 shares of the company's stock after selling 114,454 shares during the quarter. UBS Group AG owned about 0.15% of Progyny worth $3,315,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in Progyny by 147.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock valued at $30,000 after buying an additional 819 shares in the last quarter. Covestor Ltd grew its holdings in Progyny by 164.9% during the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company's stock valued at $56,000 after buying an additional 1,624 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Progyny during the 2nd quarter valued at approximately $77,000. Quarry LP grew its holdings in Progyny by 2,004.1% during the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after buying an additional 3,427 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in Progyny during the 4th quarter valued at approximately $179,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Insider Buying and Selling

In related news, CFO Mark S. Livingston sold 8,275 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $25.50, for a total transaction of $211,012.50. Following the completion of the sale, the chief financial officer directly owned 79,063 shares of the company's stock, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Melissa B. Cummings sold 9,578 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.00, for a total value of $239,450.00. Following the sale, the chief operating officer directly owned 73,371 shares of the company's stock, valued at $1,834,275. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 25,308 shares of company stock valued at $579,977. Insiders own 9.90% of the company's stock.

Progyny Stock Performance

Shares of Progyny stock opened at $24.88 on Monday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 1.32 and a beta of 0.91. The stock has a 50 day moving average price of $19.06 and a 200-day moving average price of $22.06. Progyny, Inc. has a one year low of $16.10 and a one year high of $28.75.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The firm had revenue of $328.50 million during the quarter, compared to analysts' expectations of $326.47 million. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The company's quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Sell-side analysts predict that Progyny, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BTIG Research cut their price target on Progyny from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Barclays raised their price target on Progyny from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Truist Financial raised their price target on Progyny from $28.00 to $30.00 and gave the company a "buy" rating in a report on Monday, May 11th. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Finally, Citizens Jmp lifted their target price on Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.55.

Progyny 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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