Progyny (NASDAQ:PGNY) Releases Q2 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.16 to $0.18 for the period, compared to the consensus estimate of $0.18. The company issued revenue guidance of $300.0 million to $310.0 million, compared to the consensus revenue estimate of $335.76 million. Progyny also updated its FY 2024 guidance to 1.610-1.680 EPS.

Progyny Trading Up 1.1 %

PGNY stock opened at $32.50 on Friday. The business’s fifty day moving average price is $34.67 and its 200 day moving average price is $35.59. Progyny has a 12-month low of $29.44 and a 12-month high of $44.95. The company has a market capitalization of $3.12 billion, a PE ratio of 52.42, a P/E/G ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Research analysts predict that Progyny will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PGNY. Truist Financial reiterated a buy rating and issued a $46.00 price objective on shares of Progyny in a research note on Wednesday, April 17th. Leerink Partnrs reiterated an outperform rating on shares of Progyny in a report on Monday, February 26th. SVB Leerink started coverage on shares of Progyny in a report on Monday, February 26th. They issued an outperform rating and a $49.00 price objective on the stock. Cantor Fitzgerald reiterated an overweight rating and set a $48.00 target price on shares of Progyny in a research note on Wednesday, February 28th. Finally, KeyCorp cut Progyny from an overweight rating to a sector weight rating in a research note on Friday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $48.11.

Insider Buying and Selling at Progyny

In related news, President Michael E. Sturmer sold 6,395 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.60, for a total transaction of $240,452.00. Following the transaction, the president now owns 384,553 shares of the company’s stock, valued at $14,459,192.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Progyny news, Chairman David J. Schlanger sold 71,272 shares of Progyny stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael E. Sturmer sold 6,395 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the transaction, the president now directly owns 384,553 shares in the company, valued at approximately $14,459,192.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,770 shares of company stock worth $3,853,985. 12.30% of the stock is owned by company insiders.

Progyny Company 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.