Voya Investment Management LLC Buys 133,703 Shares of Progyny, Inc. $PGNY

Key Points

• Voya Investment Management LLC increased its holdings in Progyny, Inc. by 258.2% during the first quarter, purchasing an additional 133,703 shares, bringing their total ownership to about 0.22% of the company.
• Progyny reported a revenue of $332.87 million for the last quarter, exceeding analyst estimates, although earnings per share were lower than expected at $0.19 compared to the consensus of $0.42.
• Several analysts have upgraded their ratings for Progyny, with Cantor Fitzgerald setting a new target price of $28.00, indicating a positive outlook for the company's stock performance.

Voya Investment Management LLC grew its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 258.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,495 shares of the company's stock after buying an additional 133,703 shares during the period. Voya Investment Management LLC owned 0.22% of Progyny worth $4,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Progyny during the first quarter valued at about $354,000. GAMMA Investing LLC increased its position in shares of Progyny by 233.9% during the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock valued at $120,000 after buying an additional 3,768 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Progyny by 18.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company's stock valued at $775,000 after buying an additional 5,459 shares during the period. Millennium Management LLC increased its position in shares of Progyny by 7.5% during the first quarter. Millennium Management LLC now owns 1,302,890 shares of the company's stock valued at $29,107,000 after buying an additional 90,367 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Progyny by 243.6% during the first quarter. Acadian Asset Management LLC now owns 205,650 shares of the company's stock valued at $4,589,000 after buying an additional 145,802 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Progyny

In other news, EVP Allison Swartz sold 2,398 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the transaction, the executive vice president directly owned 79,697 shares in the company, valued at $1,829,843.12. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin K. Gordon sold 2,500 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the transaction, the director owned 12,501 shares of the company's stock, valued at $275,522.04. The trade was a 16.67% decrease in their ownership of the stock. 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. Corporate insiders own 9.40% of the company's stock.

Progyny Trading Down 1.2%

PGNY traded down $0.28 during trading on Tuesday, reaching $21.86. The stock had a trading volume of 75,038 shares, compared to its average volume of 1,367,497. The stock's 50 day moving average is $22.89 and its two-hundred day moving average is $22.22. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 1.77 and a beta of 1.33. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). The firm had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. Progyny had a return on equity of 10.69% and a net margin of 4.28%.Progyny's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last 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, equities research analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PGNY. JPMorgan Chase & Co. upped their price target on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Canaccord Genuity Group upped their price objective on shares of Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Truist Financial upped their price objective on shares of Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.44.

Progyny Company 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.