Progyny, Inc. $PGNY Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its stake in Progyny, Inc. by 67.7%, owning approximately 0.77% of the company, worth about $14.77 million.
• Multiple institutional investors have also increased their holdings in Progyny, with over 94.93% of the stock now owned by hedge funds and other institutional investors.
• Progyny reported mixed quarterly earnings, missing earnings per share estimates while exceeding revenue expectations, with a 9.5% year-over-year revenue growth.

Wellington Management Group LLP raised its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 67.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 660,982 shares of the company's stock after acquiring an additional 266,853 shares during the period. Wellington Management Group LLP owned approximately 0.77% of Progyny worth $14,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PGNY. New York State Teachers Retirement System grew its holdings in Progyny by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock worth $1,635,000 after acquiring an additional 500 shares in the last quarter. Voya Investment Management LLC grew its holdings in Progyny by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock worth $893,000 after acquiring an additional 701 shares in the last quarter. Polen Capital Management LLC grew its holdings in Progyny by 0.3% during the 1st quarter. Polen Capital Management LLC now owns 261,506 shares of the company's stock worth $5,842,000 after acquiring an additional 798 shares in the last quarter. Invesco Ltd. grew its holdings in Progyny by 0.4% during the 1st quarter. Invesco Ltd. now owns 275,936 shares of the company's stock worth $6,164,000 after acquiring an additional 1,117 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Progyny by 13.1% during the 4th quarter. First Trust Advisors LP now owns 24,105 shares of the company's stock worth $416,000 after acquiring an additional 2,794 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday. Truist Financial increased their price target on shares of Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Raymond James Financial set a $28.00 price target on shares of Progyny in a research report on Friday, August 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price target (up from $26.00) on shares of Progyny in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.30.

Insider Buying and Selling

In other Progyny news, Director Cheryl Scott sold 2,675 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total transaction of $59,037.25. Following the completion of the transaction, the director directly owned 14,112 shares of the company's stock, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin K. Gordon sold 2,500 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 12,501 shares of the company's stock, valued at $275,522.04. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.40% of the company's stock.

Progyny Stock Up 1.8%

Shares of Progyny stock traded up $0.42 during midday trading on Friday, hitting $23.67. The company had a trading volume of 1,081,690 shares, compared to its average volume of 1,154,366. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 40.12, a PEG ratio of 1.90 and a beta of 1.32. The company has a fifty day simple moving average of $22.73 and a 200 day simple moving average of $22.20. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The company had revenue of $332.87 million during the quarter, compared to analysts' expectations of $315.70 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. As a group, analysts expect that Progyny, Inc. will post 0.6 EPS for the current year.

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.