Fred Alger Management LLC Lowers Holdings in Progyny, Inc. $PGNY

Fred Alger Management LLC trimmed its holdings in Progyny, Inc. (NASDAQ:PGNY) by 17.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,416,816 shares of the company’s stock after selling 289,830 shares during the quarter. Fred Alger Management LLC owned 1.64% of Progyny worth $36,384,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Progyny in the fourth quarter valued at $25,000. Hantz Financial Services Inc. boosted its holdings in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after purchasing an additional 742 shares during the last quarter. Quarry LP boosted its holdings in Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after purchasing an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Progyny in the second quarter valued at $77,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Progyny in the fourth quarter valued at $94,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Canaccord Genuity Group upgraded shares of Progyny from a “hold” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $30.00 in a research report on Tuesday, May 19th. Truist Financial upped their price objective on shares of Progyny from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research report on Friday, March 27th. Finally, Zacks Research downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Progyny Stock Performance

Shares of Progyny stock opened at $26.60 on Wednesday. The firm has a 50-day simple moving average of $21.87 and a two-hundred day simple moving average of $22.28. The company has a market cap of $2.08 billion, a P/E ratio of 34.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.03. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $28.75.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $328.50 million during the quarter, compared to analysts’ expectations of $326.47 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The company’s quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Equities research analysts forecast that Progyny, Inc. will post 1.07 EPS for the current year.

Progyny announced that its board has approved a share repurchase program on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the sale, the insider owned 59,117 shares of the company’s stock, valued at $1,512,212.86. The trade was a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin K. Gordon sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total transaction of $137,445.00. Following the sale, the director directly owned 9,318 shares of the company’s stock, valued at $232,856.82. This represents a 37.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 36,916 shares of company stock valued at $939,875. Corporate insiders own 9.90% of the company’s stock.

Progyny Company 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.