Lazard Asset Management LLC Grows Stock Position in Progyny, Inc. $PGNY

Lazard Asset Management LLC boosted its holdings in Progyny, Inc. (NASDAQ:PGNY) by 91.6% during the first quarter, Holdings Channel reports. The institutional investor owned 63,264 shares of the company’s stock after buying an additional 30,247 shares during the period. Lazard Asset Management LLC’s holdings in Progyny were worth $1,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PGNY. State Street Corp increased its stake in shares of Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company’s stock valued at $75,838,000 after acquiring an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Progyny by 46.9% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after acquiring an additional 859,289 shares during the last quarter. Wellington Management Group LLP grew its holdings in Progyny by 260.9% in the fourth 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 period. Ameriprise Financial Inc. increased its position in Progyny by 37.6% during 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. Finally, Geode Capital Management LLC increased its position in Progyny by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company’s stock worth $50,655,000 after purchasing an additional 20,533 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

PGNY has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price target on shares of Progyny from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Citizens Jmp upped their price objective on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a report on Monday, May 11th. Barclays reaffirmed an “equal weight” rating and issued a $34.00 target price (up from $27.00) on shares of Progyny in a research report on Tuesday, July 28th. BTIG Research lifted their target price on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Truist Financial boosted their price target on Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Progyny Stock Down 0.2%

Shares of PGNY stock opened at $31.48 on Wednesday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $33.06. The firm’s 50 day moving average price is $28.82 and its two-hundred day moving average price is $23.31.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. During the same period in the previous year, the firm earned $0.17 earnings per share. Progyny’s revenue for the quarter was down 26.4% on a year-over-year basis. 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, equities analysts forecast that Progyny, Inc. will post 1.19 EPS for the current fiscal year.

Progyny announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding 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 believes its stock is undervalued.

Insider Activity

In other Progyny news, Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total value of $196,315.21. Following the transaction, the director directly owned 19,772 shares of the company’s stock, valued at $521,783.08. This trade represents a 27.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin K. Gordon sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the transaction, the director owned 9,318 shares in the company, valued at approximately $232,856.82. This represents a 37.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,916 shares of company stock worth $939,875 in the last quarter. 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.