Tocqueville Asset Management L.P. Makes New $2.42 Million Investment in Progyny, Inc. $PGNY

Tocqueville Asset Management L.P. purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 84,000 shares of the company’s stock, valued at approximately $2,422,000.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Progyny in the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. grew its position in Progyny by 79.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after purchasing an additional 742 shares during the last quarter. Quarry LP increased its stake in Progyny by 2,004.1% during the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after purchasing an additional 3,427 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Progyny during the 2nd quarter valued at approximately $77,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Progyny in the fourth quarter worth $94,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Trading Up 1.7%

PGNY opened at $25.96 on Friday. 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 $1.99 billion, a PE ratio of 28.22, a P/E/G ratio of 1.85 and a beta of 1.01. The firm has a 50 day moving average of $29.15 and a two-hundred day moving average of $23.50.

Progyny (NASDAQ:PGNY) last announced 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 business had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. 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. As a group, analysts predict that Progyny, Inc. will post 1.19 EPS for the current fiscal year.

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

Insider Activity

In other Progyny news, insider Geoffrey Clapp sold 1,530 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the sale, the insider directly owned 59,117 shares of the company’s stock, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the sale, the director directly owned 9,318 shares in the company, valued at $232,856.82. This represents a 37.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,063 shares of company stock valued at $489,413 over the last quarter. Insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PGNY shares. Leerink Partners set a $38.00 price objective on shares of Progyny in a research note on Wednesday, July 22nd. Citizens Jmp upped their target price on Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research report on Monday, May 11th. Canaccord Genuity Group set a $35.00 target price on Progyny in a research note on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Finally, Wells Fargo & Company initiated coverage on Progyny in a research note on Thursday. They set an “overweight” rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.36.

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.