Progyny (NASDAQ:PGNY) Updates Q2 2024 Earnings Guidance

Progyny (NASDAQ:PGNY) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.390-0.410 for the period, compared to the consensus earnings per share estimate of 0.180. The company issued revenue guidance of $300.0 million-$310.0 million, compared to the consensus revenue estimate of $335.8 million. Progyny also updated its FY 2024 guidance to 1.610-1.680 EPS.

Analyst Upgrades and Downgrades

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

Progyny Stock Performance

Shares of PGNY stock traded up $0.34 during mid-day trading on Thursday, reaching $32.50. 1,646,876 shares of the company were exchanged, compared to its average volume of 800,912. Progyny has a fifty-two week low of $29.44 and a fifty-two week high of $44.95. The company has a market capitalization of $3.12 billion, a P/E ratio of 52.42, a P/E/G ratio of 1.31 and a beta of 1.51. The business’s 50 day simple moving average is $34.67 and its 200 day simple moving average is $35.59.

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

Insider Transactions at Progyny

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