Jefferies Financial Group Inc. Buys New Shares in Progyny, Inc. $PGNY

Jefferies Financial Group Inc. purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,015 shares of the company’s stock, valued at approximately $1,759,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGNY. Easterly Investment Partners LLC lifted its stake in Progyny by 197.4% in the 4th quarter. Easterly Investment Partners LLC now owns 146,013 shares of the company’s stock valued at $3,750,000 after purchasing an additional 96,912 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Progyny by 40.2% in the fourth quarter. First Eagle Investment Management LLC now owns 212,612 shares of the company’s stock valued at $5,460,000 after buying an additional 60,912 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Progyny by 75.3% in the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock valued at $20,223,000 after buying an additional 511,609 shares during the last quarter. CenterBook Partners LP boosted its stake in shares of Progyny by 36.2% during the 4th quarter. CenterBook Partners LP now owns 578,171 shares of the company’s stock worth $14,847,000 after acquiring an additional 153,778 shares during the period. Finally, Simcoe Capital LLC acquired a new position in shares of Progyny during the 4th quarter worth approximately $3,902,000. Institutional investors own 94.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PGNY shares. JPMorgan Chase & Co. raised their price target on Progyny from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Leerink Partners set a $38.00 target price on shares of Progyny in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Bank of America increased their price target on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Progyny has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Progyny Stock Up 0.5%

Shares of NASDAQ:PGNY opened at $26.00 on Friday. Progyny, Inc. has a 12-month low of $16.10 and a 12-month high of $33.06. The company’s 50 day moving average price is $29.08 and its two-hundred day moving average price is $23.63. The firm has a market cap of $1.99 billion, a PE ratio of 28.26, a PEG ratio of 1.79 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last issued its quarterly 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 business had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $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. On average, research analysts expect that Progyny, Inc. will post 1.25 EPS for the current year.

Progyny declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Cheryl Scott sold 7,439 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 19,772 shares in the company, valued at approximately $521,783.08. This represents a 27.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total value of $39,137.40. Following the sale, the insider directly owned 59,117 shares in the company, valued at approximately $1,512,212.86. This trade represents a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,563 shares of company stock valued at $351,968. 9.90% of the stock is owned by insiders.

About Progyny

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.