VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Progyny, Inc. $PGNY

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 41,200 shares of the company’s stock, valued at approximately $1,188,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PGNY. Royal Bank of Canada boosted its stake in shares of Progyny by 384.8% during the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after acquiring an additional 10,340 shares in the last quarter. Amundi increased its holdings in shares of Progyny by 103.8% during the 1st quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after acquiring an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock valued at $5,630,000 after acquiring an additional 14,297 shares in the last quarter. Invesco Ltd. raised its stake in shares of Progyny by 37.4% in the 2nd quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock valued at $8,342,000 after acquiring an additional 103,253 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in Progyny by 6.9% in the 2nd quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock worth $266,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Progyny from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Truist Financial lifted their price target on shares of Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Citigroup restated an “outperform” rating on shares of Progyny in a research note on Tuesday. Leerink Partners set a $38.00 price objective on shares of Progyny in a report on Wednesday, July 22nd. Finally, KeyCorp raised their target price on shares of Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Progyny currently has a consensus rating of “Moderate Buy” and an average price target of $34.36.

Progyny Stock Up 1.0%

Shares of NASDAQ:PGNY opened at $27.35 on Friday. The business has a 50 day moving average price of $28.71 and a 200 day moving average price of $24.01. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.89 and a beta of 0.99.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The company had revenue of $350.51 million for the quarter, compared to the consensus estimate of $349.05 million. During the same period in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter 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. Analysts anticipate that Progyny, Inc. will post 1.25 EPS for the current year.

Progyny declared that its board has approved a stock buyback plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Progyny Profile

Progyny, Inc is a benefits management company that provides fertility and family-building solutions to employers and their employees. Its platform is designed to support individuals and couples pursuing fertility treatment, including in vitro fertilization, egg freezing, donor services, gestational surrogacy and adoption.

The company’s services combine access to a network of fertility specialists with personalized guidance, care coordination and treatment support. Progyny also offers pharmacy benefits through Progyny Rx, helping members obtain and manage medications commonly used in fertility treatments.

Progyny primarily serves employer-sponsored benefit programs in the United States.