OMERS ADMINISTRATION Corp Takes Position in Progyny, Inc. $PGNY

OMERS ADMINISTRATION Corp purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 49,150 shares of the company’s stock, valued at approximately $1,081,000. OMERS ADMINISTRATION Corp owned 0.06% of Progyny as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. raised its position in shares of Progyny by 99.5% during the second quarter. Edgestream Partners L.P. now owns 162,397 shares of the company’s stock worth $3,573,000 after purchasing an additional 81,004 shares during the period. Norges Bank bought a new position in Progyny in the 2nd quarter valued at about $1,697,000. Aristides Capital LLC acquired a new position in Progyny during the 2nd quarter valued at about $251,000. Russell Investments Group Ltd. increased its holdings in Progyny by 17.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 120,992 shares of the company’s stock worth $2,661,000 after purchasing an additional 17,978 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Progyny by 430.3% in the second quarter. XTX Topco Ltd now owns 57,142 shares of the company’s stock worth $1,257,000 after purchasing an additional 46,367 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Raymond James Financial set a $28.00 price target on shares of Progyny in a research report on Friday, August 8th. Canaccord Genuity Group upped their price objective on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Progyny in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Progyny has an average rating of “Moderate Buy” and a consensus price target of $27.33.

Progyny Stock Performance

Shares of PGNY opened at $24.95 on Wednesday. Progyny, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $27.51. The business has a 50-day moving average of $21.88 and a 200 day moving average of $22.18. The firm has a market cap of $2.15 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.97.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The firm had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. As a group, research analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other Progyny news, CFO Mark S. Livingston sold 21,303 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of the sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at $1,233,129. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Anevski purchased 79,500 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average price of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the transaction, the chief executive officer owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 9.40% of the stock is currently owned by insiders.

Progyny Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.