Progyny (NASDAQ:PGNY) Issues FY 2024 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.610-1.680 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Progyny also updated its FY24 guidance to $0.68 to $0.75 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Leerink Partnrs reissued an outperform rating on shares of Progyny in a research note on Monday, February 26th. KeyCorp reduced their price target on Progyny from $45.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday, February 28th. SVB Leerink initiated coverage on Progyny in a report on Monday, February 26th. They issued an outperform rating and a $49.00 target price on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. Finally, Truist Financial reiterated a buy rating and set a $46.00 target price on shares of Progyny in a research report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average price target of $48.30.

Progyny Price Performance

PGNY traded up $0.34 on Thursday, hitting $32.50. The company had a trading volume of 1,646,876 shares, compared to its average volume of 800,912. Progyny has a 1-year low of $29.44 and a 1-year high of $44.95. The company’s fifty day moving average price is $34.75 and its 200 day moving average price is $35.61. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The business had revenue of $269.94 million during the quarter, compared to analysts’ expectations of $274.08 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, sell-side analysts forecast that Progyny will post 0.7 EPS for the current year.

Insider Transactions at Progyny

In other news, Chairman David J. Schlanger sold 5,826 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.74, for a total transaction of $219,873.24. Following the sale, the chairman now owns 86,312 shares in the company, valued at approximately $3,257,414.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Progyny news, Chairman David J. Schlanger sold 5,826 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the transaction, the chairman now directly owns 86,312 shares in the company, valued at $3,257,414.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the sale, the chairman now owns 86,312 shares of the company’s stock, valued at $3,262,593.60. The disclosure for this sale can be found here. Insiders have sold a total of 102,770 shares of company stock valued at $3,853,985 over the last three months. 12.30% of the stock is currently owned by corporate insiders.

About Progyny

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.