Intech Investment Management LLC Decreases Stake in Progyny, Inc. $PGNY

Intech Investment Management LLC cut its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 74.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 43,077 shares of the company’s stock after selling 126,757 shares during the period. Intech Investment Management LLC’s holdings in Progyny were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in Progyny by 147.3% in the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock worth $30,000 after acquiring an additional 819 shares during the last quarter. Hantz Financial Services Inc. grew its holdings 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 acquiring an additional 742 shares in the last quarter. Quarry LP increased its position in shares of Progyny by 2,004.1% in 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 during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Progyny in the 2nd quarter valued at approximately $77,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Progyny in the 4th quarter valued at $94,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In other news, Director Kevin K. Gordon sold 5,500 shares of the firm’s 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. This trade represents a 37.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark S. Livingston sold 8,275 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $25.50, for a total transaction of $211,012.50. Following the transaction, the chief financial officer owned 79,063 shares in the company, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 36,916 shares of company stock valued at $939,875. 9.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of analyst reports. Citigroup reiterated an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. KeyCorp cut their price target on Progyny from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Barclays raised their price target on Progyny from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group upgraded Progyny from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $30.00 in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Progyny Stock Up 1.5%

Shares of Progyny stock opened at $25.86 on Friday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 33.58, a P/E/G ratio of 2.28 and a beta of 1.03. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $28.75. The firm’s 50 day moving average is $20.58 and its two-hundred day moving average is $22.30.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The company had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.47 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm’s revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, research analysts expect that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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.