Ieq Capital LLC Invests $3.74 Million in Progyny, Inc. $PGNY

Ieq Capital LLC purchased a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 129,578 shares of the company’s stock, valued at approximately $3,736,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Progyny in the fourth quarter worth about $25,000. Hantz Financial Services Inc. lifted its stake in shares of 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 acquiring an additional 742 shares during the last quarter. Quarry LP boosted its holdings 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 acquiring an additional 3,427 shares during the period. Canada Pension Plan Investment Board bought a new position in Progyny in the 2nd quarter valued at $77,000. Finally, New Age Alpha Advisors LLC bought a new position in Progyny in the 4th quarter valued at $94,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGNY has been the subject of several research analyst reports. Barclays decreased their target price on Progyny from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their price target on shares of Progyny from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday. KeyCorp lifted their price objective on shares of Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Bank of America lifted their price objective on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen cut shares of Progyny from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. One 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

Progyny Trading Down 0.8%

Shares of PGNY stock opened at $25.45 on Tuesday. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The stock has a fifty day simple moving average of $29.10 and a two-hundred day simple moving average of $23.53. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.86 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. The firm 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 business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm 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. Research analysts predict that Progyny, Inc. will post 1.19 EPS for the current fiscal year.

Progyny declared that its board has initiated a stock repurchase plan on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the transaction, the insider directly owned 59,117 shares in the company, valued at approximately $1,512,212.86. This trade 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 is accessible through this link. Also, Director Kevin K. Gordon sold 5,500 shares of Progyny stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total transaction of $137,445.00. Following the transaction, the director directly owned 9,318 shares in the company, valued at approximately $232,856.82. The trade was a 37.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,063 shares of company stock worth $489,413. 9.90% of the stock is currently owned by company insiders.

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.