BlackRock Inc. Acquires Shares of 11,599,921 Progyny, Inc. $PGNY

BlackRock Inc. acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the second quarter, Holdings Channel reports. The fund acquired 11,599,921 shares of the company’s stock, valued at approximately $334,426,000. BlackRock Inc. owned about 0.15% of Progyny as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Easterly Investment Partners LLC boosted its stake in shares of Progyny by 197.4% in the fourth quarter. Easterly Investment Partners LLC now owns 146,013 shares of the company’s stock valued at $3,750,000 after buying an additional 96,912 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Progyny by 40.2% during the 4th quarter. First Eagle Investment Management LLC now owns 212,612 shares of the company’s stock worth $5,460,000 after purchasing an additional 60,912 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Progyny by 75.3% during the 1st quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after purchasing an additional 511,609 shares during the period. CenterBook Partners LP increased its holdings in shares of Progyny by 36.2% in the 4th quarter. CenterBook Partners LP now owns 578,171 shares of the company’s stock valued at $14,847,000 after purchasing an additional 153,778 shares in the last quarter. Finally, Simcoe Capital LLC purchased a new position in shares of Progyny in the 4th quarter valued at about $3,902,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the completion of the sale, the director owned 19,772 shares in the company, valued at approximately $521,783.08. This trade represents a 27.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allison Swartz sold 1,199 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $25.02, for a total transaction of $29,998.98. Following the completion of the transaction, the executive vice president directly owned 83,316 shares of the company’s stock, valued at $2,084,566.32. The trade was a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,563 shares of company stock worth $351,968 in the last ninety days. 9.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PGNY has been the topic of a number of research analyst reports. BTIG Research boosted their price objective on shares of Progyny from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company started coverage on shares of Progyny in a report on Thursday, August 20th. They issued an “overweight” rating and a $37.00 target price for the company. Citizens Jmp boosted their price target on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Truist Financial upped their price target on Progyny from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Leerink Partners set a $38.00 price objective on Progyny in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Progyny Stock Performance

PGNY stock opened at $26.37 on Thursday. The stock’s 50 day moving average price is $29.08 and its 200 day moving average price is $23.58. The firm has a market cap of $2.02 billion, a P/E ratio of 28.66, a PEG ratio of 1.87 and a beta of 1.01. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $33.06.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share 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 during the quarter, compared to the consensus estimate of $349.05 million. During the same quarter last year, the business posted $0.19 earnings per share. Progyny’s revenue was up 5.3% compared to the same quarter last year. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, research analysts predict that Progyny, Inc. will post 1.19 earnings per share for the current year.

Progyny declared that its Board of Directors has initiated a stock repurchase plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

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.