Fred Alger Management LLC Has $36.73 Million Position in Progyny, Inc. $PGNY

Fred Alger Management LLC cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,706,646 shares of the company’s stock after selling 49,410 shares during the quarter. Fred Alger Management LLC owned approximately 1.98% of Progyny worth $36,727,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PGNY. Federated Hermes Inc. increased its position in shares of Progyny by 147.3% in the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after acquiring an additional 819 shares during the last quarter. Versant Capital Management Inc boosted its position in Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after purchasing an additional 894 shares during the last quarter. Covestor Ltd grew its stake in Progyny by 164.9% in the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock valued at $56,000 after purchasing an additional 1,624 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Progyny during the 2nd quarter worth approximately $77,000. Finally, USA Financial Formulas acquired a new position in shares of Progyny during the 3rd quarter worth approximately $100,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Stock Performance

PGNY stock opened at $17.50 on Monday. Progyny, Inc. has a 1-year low of $16.75 and a 1-year high of $28.75. The business’s 50 day simple moving average is $22.30 and its 200 day simple moving average is $22.74. The firm has a market capitalization of $1.43 billion, a PE ratio of 26.92, a PEG ratio of 1.17 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.10. Progyny had a return on equity of 11.37% and a net margin of 4.54%.The business had revenue of $318.40 million during the quarter, compared to the consensus estimate of $314.26 million. During the same quarter last year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.830-1.950 EPS and its Q1 2026 guidance at 0.420-0.450 EPS. As a group, sell-side analysts predict that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of analyst reports. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Barclays started coverage on shares of Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price for the company. JPMorgan Chase & Co. set a $35.00 price target on shares of Progyny in a research report on Wednesday, January 21st. Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $30.00 price objective on shares of Progyny in a research report on Friday, March 6th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Progyny has an average rating of “Moderate Buy” and a consensus target price of $28.45.

Insider Activity

In other news, EVP Allison Swartz sold 4,657 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.40, for a total transaction of $81,031.80. Following the completion of the sale, the executive vice president owned 89,879 shares in the company, valued at approximately $1,563,894.60. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 7,455 shares of company stock worth $129,515. Company insiders own 9.40% of the company’s stock.

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.