Summit Global Investments Purchases New Holdings in Progyny, Inc. $PGNY

Summit Global Investments acquired a new stake in Progyny, Inc. (NASDAQ:PGNY) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 43,847 shares of the company’s stock, valued at approximately $1,105,000. Summit Global Investments owned about 0.06% of Progyny as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Progyny in the second quarter valued at about $334,426,000. Bank of America Corp DE acquired a new position in Progyny during the second quarter worth about $17,264,000. William Blair Investment Management LLC acquired a new position in Progyny during the second quarter worth about $16,807,000. Danske Bank A S purchased a new stake in Progyny during the 2nd quarter valued at about $15,243,000. Finally, Jupiter Topco LLC purchased a new stake in Progyny during the 2nd quarter valued at about $12,986,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Allison Swartz sold 3,903 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $26.10, for a total value of $101,868.30. Following the sale, the executive vice president directly owned 75,816 shares in the company, valued at approximately $1,978,797.60. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin K. Gordon sold 11,500 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $27.94, for a total transaction of $321,310.00. Following the completion of the sale, the director owned 6,792 shares in the company, valued at approximately $189,768.48. This trade represents a 62.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,282 shares of company stock valued at $475,790 over the last quarter. 9.90% of the stock is owned by insiders.

Analysts Set New Price Targets

PGNY has been the topic of a number of research reports. Truist Financial raised their target price on shares of Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded Progyny from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Leerink Partners set a $38.00 price target on Progyny in a research report on Wednesday, July 22nd. Barclays cut their price target on Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Finally, BTIG Research lifted their price objective on Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.36.

Progyny Stock Performance

Shares of PGNY opened at $29.19 on Monday. Progyny, Inc. has a 12-month low of $16.10 and a 12-month high of $33.06. The firm has a market capitalization of $2.24 billion, a P/E ratio of 31.73, a P/E/G ratio of 2.01 and a beta of 1.02. The firm has a 50-day moving average price of $26.88 and a 200 day moving average price of $24.43.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share 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 net margin of 6.00% and a return on equity of 15.98%. Progyny’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Equities research analysts predict that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

About Progyny

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.