Nordea Investment Management AB Increases Stock Position in Progyny, Inc. $PGNY

Nordea Investment Management AB boosted its stake in Progyny, Inc. (NASDAQ:PGNY) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 183,362 shares of the company’s stock after purchasing an additional 1,140 shares during the quarter. Nordea Investment Management AB owned about 0.21% of Progyny worth $4,052,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PGNY. Nuveen LLC bought a new stake in shares of Progyny in the 1st quarter worth about $13,645,000. CenterBook Partners LP increased its holdings in shares of Progyny by 458.2% in the 1st quarter. CenterBook Partners LP now owns 515,626 shares of the company’s stock worth $11,519,000 after buying an additional 423,257 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Progyny by 1,060.7% in the 1st quarter. AQR Capital Management LLC now owns 332,386 shares of the company’s stock worth $7,425,000 after buying an additional 303,750 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Progyny by 67.7% in the 1st quarter. Wellington Management Group LLP now owns 660,982 shares of the company’s stock worth $14,766,000 after buying an additional 266,853 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Progyny by 243.6% in the 1st quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock worth $4,589,000 after buying an additional 145,802 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the completion of the sale, the director directly owned 12,501 shares of the company’s stock, valued at $275,522.04. The trade was a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison Swartz sold 2,398 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the sale, the executive vice president directly owned 79,697 shares of the company’s stock, valued at approximately $1,829,843.12. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,895 shares of company stock valued at $179,311. 9.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of research reports. Leerink Partnrs upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Progyny in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Raymond James Financial set a $28.00 price target on shares of Progyny in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Progyny has an average rating of “Moderate Buy” and a consensus target price of $25.44.

Progyny Price Performance

Progyny stock opened at $19.41 on Wednesday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 1.67 and a beta of 1.34. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $26.76. The firm has a 50-day moving average of $21.93 and a two-hundred day moving average of $22.09.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.23). The company had revenue of $332.87 million during the quarter, compared to analysts’ expectations of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. Progyny’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. Research analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.