Ieq Capital LLC Invests $3.74 Million in Progyny, Inc. $PGNY

Ieq Capital LLC acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 129,578 shares of the company’s stock, valued at approximately $3,736,000. Ieq Capital LLC owned 0.17% of Progyny at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Progyny in the second quarter valued at about $334,426,000. Wellington Management Group LLP grew its position in shares of Progyny by 260.9% during the fourth quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after purchasing an additional 1,621,688 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Progyny by 46.9% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after purchasing an additional 859,289 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Progyny during the 4th quarter valued at approximately $19,917,000. Finally, Ameriprise Financial Inc. raised its stake in Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after purchasing an additional 545,431 shares during the period. Institutional investors own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

PGNY has been the subject of several recent analyst reports. Bank of America upped their price target on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Leerink Partners set a $38.00 target price on shares of Progyny in a report on Wednesday, July 22nd. KeyCorp upped their target price on shares of Progyny from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.91.

Insider Activity

In related news, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the transaction, the director owned 9,318 shares of the company’s stock, valued at approximately $232,856.82. This trade represents a 37.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geoffrey Clapp sold 1,530 shares of Progyny stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total value of $39,137.40. Following the completion of the transaction, the insider owned 59,117 shares of the company’s stock, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,063 shares of company stock worth $489,413. 9.90% of the stock is owned by insiders.

Progyny Price Performance

NASDAQ:PGNY opened at $25.45 on Tuesday. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $33.06. The stock’s 50 day simple moving average is $29.10 and its two-hundred day simple moving average is $23.53. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.86 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. During the same period in the prior year, the company earned $0.19 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. 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, analysts anticipate that Progyny, Inc. will post 1.19 EPS for the current year.

Progyny announced that its board has authorized a stock buyback plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.