Progyny (NASDAQ:PGNY) Releases Q2 Earnings Guidance

Progyny (NASDAQ:PGNY) updated its second quarter earnings guidance on Thursday. 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 Stock Performance

NASDAQ PGNY traded up $0.34 during trading on Thursday, hitting $32.50. The stock had a trading volume of 1,646,876 shares, compared to its average volume of 800,912. 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. The company’s 50-day moving average price is $34.67 and its two-hundred day moving average price is $35.59. Progyny has a 12 month low of $29.44 and a 12 month high of $44.95.

Progyny (NASDAQ:PGNY) last released its 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 firm had revenue of $269.94 million for the quarter, compared to analysts’ expectations of $274.08 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities analysts anticipate that Progyny will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PGNY has been the topic of several recent research reports. 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. Truist Financial reiterated a buy rating and issued a $46.00 target price on shares of Progyny in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an overweight rating and issued a $48.00 target price on shares of Progyny in a report on Wednesday, February 28th. Leerink Partnrs reissued an outperform rating on shares of Progyny in a report on Monday, February 26th. Finally, SVB Leerink began coverage on Progyny in a report on Monday, February 26th. They set an outperform rating and a $49.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Progyny currently has an average rating of Buy and an average target price of $48.30.

Insiders Place Their Bets

In other Progyny news, President Michael E. Sturmer sold 4,515 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now directly owns 380,038 shares of the company’s stock, valued at approximately $12,142,214.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Mark S. Livingston sold 11,165 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.62, for a total transaction of $420,027.30. Following the completion of the transaction, the chief financial officer now directly owns 50,119 shares of the company’s stock, valued at approximately $1,885,476.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael E. Sturmer sold 4,515 shares of Progyny stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now directly owns 380,038 shares of the company’s stock, valued at approximately $12,142,214.10. 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. Company insiders own 12.30% of the company’s stock.

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.