Corient Private Wealth LP Buys New Shares in Progyny, Inc. $PGNY

Corient Private Wealth LP bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 109,939 shares of the company’s stock, valued at approximately $3,170,000.

A number of other hedge funds have also recently added to or reduced their stakes in PGNY. BlackRock Inc. purchased a new stake in Progyny in the 2nd quarter valued at about $334,426,000. State Street Corp increased its stake in shares of Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company’s stock valued at $75,838,000 after acquiring an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after acquiring an additional 859,289 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after acquiring an additional 1,621,688 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after acquiring an additional 545,431 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Trading Up 0.3%

Shares of Progyny stock opened at $25.66 on Wednesday. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01. The company has a fifty day moving average price of $29.04 and a 200 day moving average price of $23.70.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. The company had revenue of $350.51 million for the quarter, compared to analyst estimates of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last 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. Analysts forecast that Progyny, Inc. will post 1.25 earnings per share for the current year.

Progyny announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Mark S. Livingston sold 2,517 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $25.50, for a total transaction of $64,183.50. Following the sale, the chief financial officer directly owned 74,688 shares in the company, valued at approximately $1,904,544. This trade represents a 3.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PGNY. Leerink Partners set a $38.00 target price on shares of Progyny in a report on Wednesday, July 22nd. Canaccord Genuity Group set a $35.00 price target on shares of Progyny in a research note on Friday, August 7th. BTIG Research lifted their price target on shares of Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Zacks Research raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Barclays dropped their price objective on Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Progyny has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

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.