Wellington Management Group LLP Sells 790,748 Shares of Progyny, Inc. $PGNY

Wellington Management Group LLP lessened its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 34.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,496,633 shares of the company’s stock after selling 790,748 shares during the period. Wellington Management Group LLP’s holdings in Progyny were worth $43,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PGNY. Empowered Funds LLC acquired a new position in Progyny during the 2nd quarter worth about $6,299,000. Caitlin John LLC bought a new stake in Progyny during the 2nd quarter worth about $173,000. Jefferies Financial Group Inc. acquired a new stake in Progyny in the 2nd quarter valued at about $1,759,000. Public Employees Retirement System of Ohio bought a new stake in shares of Progyny during the second quarter valued at approximately $29,000. Finally, Corient Private Wealth LP bought a new stake in shares of Progyny during the second quarter valued at approximately $3,170,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several research analyst reports. Zacks Research upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Truist Financial increased their price objective on Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. BTIG Research lifted their target price on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upped their price target on Progyny from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Finally, Canaccord Genuity Group set a $35.00 price target on Progyny in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Progyny has an average rating of “Moderate Buy” and an average price target of $33.91.

Progyny Stock Up 1.2%

NASDAQ:PGNY opened at $26.61 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 $2.04 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.81 and a beta of 0.99. The stock’s fifty day simple moving average is $29.02 and its 200-day simple moving average is $23.78.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The business had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. 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, equities research analysts expect that Progyny, Inc. will post 1.25 earnings per share for the current year.

Progyny declared that its board has authorized a stock repurchase program on Tuesday, May 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Progyny

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.