Hsbc Holdings PLC Sells 61,703 Shares of Progyny, Inc. $PGNY

Hsbc Holdings PLC cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 59.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,324 shares of the company’s stock after selling 61,703 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Progyny worth $1,069,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock valued at $57,607,000 after purchasing an additional 1,621,688 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Progyny in the fourth quarter worth $19,917,000. Ameriprise Financial Inc. lifted its stake in Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after purchasing an additional 545,431 shares during the last quarter. Norges Bank purchased a new stake in Progyny during the fourth quarter valued at about $10,167,000. Finally, Qube Research & Technologies Ltd boosted its position in Progyny by 161.6% during the third quarter. Qube Research & Technologies Ltd now owns 457,015 shares of the company’s stock valued at $9,835,000 after buying an additional 282,322 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Up 4.3%

Shares of Progyny stock opened at $31.98 on Tuesday. The business has a 50 day moving average of $26.11 and a 200 day moving average of $22.70. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $32.00. The company has a market cap of $2.50 billion, a PE ratio of 41.53, a P/E/G ratio of 2.43 and a beta of 1.01.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The business had revenue of $328.50 million for the quarter, compared to analysts’ expectations of $326.46 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. On average, research analysts anticipate that Progyny, Inc. will post 1.19 earnings per share for the current year.

Progyny declared that its board has initiated a share repurchase program on Tuesday, May 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PGNY shares. Citizens Jmp boosted their target price on Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Monday, May 11th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Barclays lifted their price target on Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Citigroup reissued an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. Finally, Truist Financial lifted their target price on shares of Progyny from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.73.

Insider Activity at Progyny

In related news, COO Melissa B. Cummings sold 9,578 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.00, for a total value of $239,450.00. Following the completion of the transaction, the chief operating officer directly owned 73,371 shares of the company’s stock, valued at $1,834,275. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark S. Livingston sold 8,275 shares of Progyny stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total value of $211,012.50. Following the sale, the chief financial officer directly owned 79,063 shares in the company, valued at approximately $2,016,106.50. The trade was a 9.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,916 shares of company stock valued at $939,875 over the last three months. Corporate insiders own 9.90% of the company’s stock.

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.