Is PGNY halal?
Progyny, Inc.
Doubtful
No clear verdict is possible for Progyny, Inc. — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 15 October 2026
Exchange
NASDAQ
Price
26.86
Day
-2.17%
Market cap
$2.13B
Industry
Healthcare Plans
Sector
Healthcare
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: donor/surrogacy coverage + a new fully-insured segment (share not measurable)
What the company does
Progyny manages fertility/IVF benefits that employers offer their staff (clinic network, specialty pharmacy), plus a fully insured plan since 2025. Its money comes from employer service fees and insurance premiums.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: donor/surrogacy coverage + a new fully-insured segment (share not measurable)
Interest-bearing debt / market cap
limit 30%
0.0%
Pass
Cash & investments / market cap
limit 30%
10.7%
Pass
Non-compliant income / total revenue
limit 5%
0.8%
Pass
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $28.83
- First Eagle Investment Management$12.3M0.0%
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- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.